Synergy Pharmaceuticals Inc (NASDAQ: SGYP)
Synergy Pharmaceuticals stock is having a great day in the market today after announcing the details of a gastrointestinal study. Today, we’ll take a look at the details to see why investors are so excited, chat about what we’re seeing from the stock today, and discuss what we can expect to see in the future. So, let’s get right to it.
Synergy Pharmaceuticals Gastrointestinal Study Was A Hit
Earlier today, Synergy Pharmaceuticals announced the results of their most recent gastrointestinal study. The study included 1,346 patients with late stage gastrointestinal issues. SGYP explained that 21% of the patients were treated with placenatide at a 3 milligram dose. Less than 6% of patients in the study experienced diarrhea as a result of the treatment which is far better than what analysts were expecting; also better than the results of Linzess, from which 16% of patients experienced diarrhea as a side effect.
SGYP Is Climbing As A Result Of The Study
As mentioned above, SGYP is having a great day in the market today following the results of the study; and it makes sense. After all, positive results from treatment studies tend to lead to profits. Currently (11:55), the stock is trading at $7.03 per share after a massive gain of 51.51% so far today; and this climb may lead to more bullish activity in the long run.
What To Expect Moving Forward
Moving forward, I’m expecting to see bullish activity from SGYP in both the short and long term outlooks. Here’s how I see it.
- Short Term – The news about placenatide is incredibly positive and has obviously gotten investors excited. As a result, I’m expecting to see more positivity in the short term. However, it’s important to remember that after steep climbs, we tend to see dips before movement continues in the positive direction. So, now may be the time to look for pull backs as opportunities to get in on the bullish trends that are to come.
- Long Term – In the long run, I’m also expecting to see great things out of Synergy Pharmaceuticals. First off, placenatide produced overwhelmingly positive results; and overwhelmingly positive results generally turn into profits. Aside from placentide, I’m incredibly impressed with the company’s management and talented team. They seem to be following a clear plan that will likely lead to more growth in the long run.
What Do You Think?
Where do you think SGYP is headed moving forward and why? Let us know in the comments below!