Shares of Synergy Pharmaceuticals Inc SGYP were trading higher by nearly 8 percent on Friday following unconfirmed reports the company is exploring a sale of itself.
With 90 minutes of trading remaining, shares were trading at $3.11, up 7.61 percent on the day. The stock hit an intra-day high of $3.30 shortly after the reports began circulating.
$SGYP rumor they are exploring a sale
— Open Outcrier (@OpenOutcrier) April 8, 2016
StreetInsider, citing a "person claiming to have information about management's intentions," reported the company is considering a potential sale.
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