Buy Synergy Pharmaceuticals on FDA Approval of New Drug
I am issuing a buy Recommendation on Synergy Pharmaceuticals (NSDQ: SGYP), a biotech company focusing in diseases and conditions of the digestive system. The company received FDA approval for its idiopathic constipation drug Trulance on January 19, 2017. The stock dipped initially but has recovered and is showing positive momentum. The constipation market is wide open which gives Synergy the potential for a blockbuster with Trulance. This is a small company and this is a dicey market, but at this point the rewards outweigh the risks. I will have more on Monday’s edition of Breakthrough Tech Weekly.
Buy SGYP up to $7. Set a sell stop at $5.
I have a position in SGYP.