Synergy Pharmaceuticals Inc (NASDAQ:SGYP) announced the appointment of Marino Garcia to the newly created role of Executive Vice President and Chief Strategy Officer, effective immediately. Marino has served as Senior Vice President, Corporate Development and member of the leadership team since joining Synergy in March 2014. As Chief Strategy Officer, Marino will continue to drive all business development activities, as well as lead the planning and execution of Synergy’s corporate strategies and priorities.
“Marino has played a critical role in defining and advancing our strategic corporate initiatives as well as business development activities,” said Gary S. Jacob, Ph.D., Chairman and CEO of Synergy Pharmaceuticals. “As we move forward, Marino will be taking on expanded responsibilities in this new role which recognizes not only his prior efforts but my anticipation of all the important work he will be doing during this highly transformative period at Synergy.”
Mr. Garcia has over 20 years of experience in various commercial, new product planning and business development roles. Prior to joining Synergy, Mr. Garcia served as Vice President of Global Business Development at Aptalis Pharma, a privately held specialty company focused on the gastrointestinal and cystic fibrosis markets which was acquired by Forest Labs in early 2014. From 2006 to 2010, Mr. Garcia served as Vice President of US Commercial Operations and New Product Development at Aspreva Pharmaceuticals, which was acquired by Zurich-based Vifor Pharmaceuticals. Earlier in his career, Mr. Garcia served in various U.S. and international leadership roles of increasing responsibility in companies like Eli Lilly & Co and Pfizer. Mr. Garcia received a Bachelor’s Degree in Business Administration from Concordia University in Montreal, Quebec, and an M.B.A. from the Richard Ivey School of Business at Western University in London, Ontario. (Original Source)
Shares of Synergy Pharmaceuticals closed yesterday at $3.35, down $0.02 or -0.59%. SGYP has a 1-year high of $10.15 and a 1-year low of $3.04. The stock’s 50-day moving average is $3.63 and its 200-day moving average is $5.47.
On the ratings front, Synergy has been the subject of a number of recent research reports. In a report issued on February 29, Rodman & Renshaw analyst Ram Selvaraju reiterated a Buy rating on SGYP, with a price target of $17, which represents a potential upside of 407.5% from where the stock is currently trading. Separately, on November 12, Canaccord Genuity’s Corey Davis reiterated a Buy rating on the stock and has a price target of $19.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ram Selvaraju and Corey Davis have a total average return of 1.5% and -4.0% respectively. Selvaraju has a success rate of 42.9% and is ranked #1144 out of 3694 analysts, while Davis has a success rate of 35.1% and is ranked #3290.
Synergy Pharmaceuticals Inc is a biopharmaceutical company. It engages in the development of drugs to treat gastrointestinal, or GI, disorders and diseases.