SGYP – Synergy Pharmaceuticals is trending higher, up around 33% after John Paulson took a 27M share stake in the company in May. SGYP has a product candidate, plecanatide. In all the company has two lead products awaiting FDA approval. Once that happens, the revenue from them will grow thanks to their use as top-line, standard of care. Earlier last month SGYP upped its cash levels by entering a direct placement for 29.94M shares at $3. That deal netted $89.8M. On the charts, Synergy “double bottomed” at this level. The two data points (technical chart and share sale) marks a floor of $3 for the stock. Risks: SGYP needs a drug partner if they plan on commercializing Plencanatide effectively. The company lacks a sales and marketing team. Costs are high here. Free: Read for more hot biotech picks:Will Relypsa Survive?Intrexon (XON) Could Trade to $30