Syros Pharmaceuticals (NASDAQ:SYRS) Receives “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a research note released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $15.00 target price on the stock.

Other equities analysts also recently issued reports about the stock. StockNews.com raised shares of Syros Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, May 15th. Piper Sandler restated an overweight rating and set a $13.00 price objective on shares of Syros Pharmaceuticals in a research report on Wednesday, April 3rd.

Syros Pharmaceuticals Stock Performance

NASDAQ:SYRS opened at $5.70 on Wednesday. The company’s 50-day moving average price is $5.27 and its 200-day moving average price is $6.06. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 1.97. The company has a market cap of $152.35 million, a P/E ratio of -1.14 and a beta of 1.70. Syros Pharmaceuticals has a twelve month low of $2.09 and a twelve month high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.79) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.10. Syros Pharmaceuticals had a negative net margin of 1,656.34% and a negative return on equity of 395.36%. During the same period in the prior year, the company earned ($0.85) EPS. On average, sell-side analysts forecast that Syros Pharmaceuticals will post -3.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syros Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of SYRS. Bain Capital Life Sciences Investors LLC increased its position in shares of Syros Pharmaceuticals by 29.4% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock valued at $21,421,000 after acquiring an additional 625,114 shares during the last quarter. Opaleye Management Inc. increased its position in shares of Syros Pharmaceuticals by 119.1% during the first quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock valued at $4,213,000 after acquiring an additional 428,175 shares during the last quarter. Kennedy Capital Management LLC acquired a new stake in shares of Syros Pharmaceuticals during the first quarter valued at about $2,166,000. Flagship Pioneering Inc. increased its position in shares of Syros Pharmaceuticals by 30.2% during the fourth quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock valued at $10,079,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Syros Pharmaceuticals by 21.3% during the first quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock valued at $4,965,000 after acquiring an additional 163,234 shares during the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

Syros Pharmaceuticals Company Profile

Syros Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development of treatment for hematologic malignancies. The company's lead product candidates are Tamibarotene, a selective retinoic acid receptor alpha agonist, which is in Phase III clinical trial for genomically defined subset of patients with myelodysplastic syndrome and Phase II clinical trial for patients with acute myeloid leukemia; SY-2101, a novel oral form of arsenic trioxide for treating patients with acute promyelocytic leukemia; and SY-5609, a cyclin-dependent kinase 7 inhibitor, which is in a Phase I clinical trial in patients with select advanced solid tumors.