Today’s Research Reports on Stocks to Watch: Synergy Pharmaceuticals and Bioscrip Inc.
Synergy Pharmaceuticals had a pretty great day this past Friday after it was found out that Cantor Fitzgerald put a price target on the company that is roughly 200% higher than current levels. Traders were enthusiastic about the firm’s rating. Bioscrip also had some gains. The company announced an agreement with UnitedHealthcare last week.
RDI Initiates Coverage on:
Synergy Pharmaceuticals Inc.
BioScrip, Inc. shares closed up 6.77% despite any remarkable news that day. The company did however announce last week that it has reached an agreement with UnitedHealthcare to continue to provide certain core product lines to the company beyond September 30, 2017. BioScrip will retain approximately $35 million of annualized profitable core revenue with the agreement. CEO Daniel E. Greenleaf commented, "We value our relationship with UnitedHealthcare and are pleased with the revised mutually beneficial agreement. This new contract demonstrates the value that BioScrip provides to all stakeholders in the healthcare system." BioScrip provides its infusion and home care services from nearly 80 locations across U.S.
Access RDI’s BioScrip Research Report at:
Synergy Pharmaceuticals Inc. shares closed up 10.19% on Friday on volume tremendously higher than usual. So why the big move and all the attention? Cantor Fitzgerald has started coverage on the company that focuses on gastrointestinal medicine. The firm has put an "overweight" rating on the company and attached an $11 price target. At this price, the upside potential is around 200%, so no wonder traders were celebrating. According to Cantor analyst William Tanner, the FDA approval of Trulance, a once-daily tablet approved for adults with CIC (chronic idiopathic constipation) and is being evaluated for IBS-C (irritable bowel syndrome with constipation), positions the company well to bring an important new therapy to the market. Trulance has the potential to treat gastrointestinal disorders such as CIC. Tanner has a yearly average return of 6.3% and a 49% success rate according to Tipsrank.com. BTIG Research has also said that Trulance prescriptions are north of 800 per week already, and at a pace like this may deliver on full-year forecasts for around $21 million in revenue for the tablet.
Access RDI’s Synergy Pharmaceuticals Research Report at:
Our Actionable Research on BioScrip, Inc. (NASDAQ: BIOS) and Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) can be downloaded free of charge at Research Driven Investing.
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