UPDATE: Cantor Fitzgerald Reiterates Synergy Pharmaceuticals at Buy on Late Breaker Announcement

In a report published by Cantor Fitzgerald, analyst Irina Rivkind reiterated a Buy rating and $13 price target on Synergy Pharmaceuticals (NASDAQ: SGYP).

Cantor Fitzgerald reported that, “DDW Late Breaker announcement is an important catalyst for SGYP: Synergy announced that it would present full study results from its Phase IIb/ III chronic constipation (CC) trial of plecanatide in a late-breaking clinical abstract at Digestive Disease Week (DDW) on Tuesday, May 21. The poster will be presented by a well-known key opinion leader, which should enhance plecanatide visibility amongst gastroenterologists. We view this news as an important catalyst for the stock.”

Shares of Synergy Pharmaceuticals closed at $6.01 on Thursday.