Synergy Pharmaceuticals Reportedly Exploring A Sale Of Itself, Shares Spike Higher

Shares of Synergy Pharmaceuticals Inc (NASDAQ: SGYP) were trading higher by nearly 8 percent on Friday following unconfirmed reports the company is exploring a sale of itself.

With 90 minutes of trading remaining, shares were trading at $3.11, up 7.61 percent on the day. The stock hit an intra-day high of $3.30 shortly after the reports began circulating.

$SGYP rumor they are exploring a sale

— Open Outcrier (@OpenOutcrier) April 8, 2016

StreetInsider, citing a "person claiming to have information about management's intentions," reported the company is considering a potential sale.