Shares are soaring 7.46% to $8.36 in Thursday's early morning trading session.
This comes after the company announced positive Phase III data in chronic constipation that showed "significant improvements in the critical FDA-mandated endpoint of 'Durable Overall Responder Rate,' defined as a patient who is a weekly responder with three or more complete spontaneous bowel movements," according to the analyst note.
Synergy is an attractive takeout target because there is scarcity value to de-risked late-stage assets in large primary care markets, analysts said.
Additionally, the firm lowered their risk rate to 12% from 14%.
The biopharmaceutical company focuses on the development of drugs to treat gastrointestinal (GI) disorders and diseases.SGYP data by YCharts