Morgan Joseph recently put out a report with a $15 target on Synergy. However, in the report they also noted the arbitrage and stated: “We would note that, if plecanatide were to be valued similar to linaclotide [Ironwood’s drug], the implied price per share of Synergy stock would approach $45, without considering Synergy’s pipeline.”Last week on July 18, Synergy filed a prospectus. A “Re-IPO”. Cowen, a respected bank, is basically taking them public on the NYSE/AMEX. Once the company goes from the pinks to the NYSE, every mutual fund in the world that missed out on IRWD can start buying them. This will have a significant effect on the stock. They did not release this news in a press release.
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