StockNews.com Initiates Coverage on Syros Pharmaceuticals (NASDAQ:SYRS)

Research analysts at StockNews.com initiated coverage on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a research note issued on Wednesday. The firm set a “sell” rating on the stock.

SYRS has been the topic of a number of other research reports. HC Wainwright reaffirmed a “neutral” rating and set a $1.00 price objective (down previously from $6.00) on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. JMP Securities reiterated a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. TD Cowen restated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Finally, Brookline Capital Management reiterated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.33.

Syros Pharmaceuticals Trading Down 10.2 %

Shares of Syros Pharmaceuticals stock opened at $0.23 on Wednesday. The firm’s 50 day simple moving average is $0.76 and its two-hundred day simple moving average is $2.45. The firm has a market capitalization of $6.30 million, a price-to-earnings ratio of -0.08 and a beta of 1.31. Syros Pharmaceuticals has a 12-month low of $0.18 and a 12-month high of $7.98. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.97.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.76) by $0.08. During the same quarter last year, the firm earned ($1.35) EPS. Analysts predict that Syros Pharmaceuticals will post -2.94 EPS for the current year.

Insider Buying and Selling at Syros Pharmaceuticals

In other Syros Pharmaceuticals news, Director Nancy A. Simonian sold 134,713 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $0.27, for a total value of $36,372.51. Following the completion of the sale, the director now directly owns 41,070 shares in the company, valued at $11,088.90. This represents a 76.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.26% of the company’s stock.

Institutional Investors Weigh In On Syros Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYRS. GSA Capital Partners LLP purchased a new stake in Syros Pharmaceuticals in the third quarter valued at approximately $34,000. Acadian Asset Management LLC grew its stake in shares of Syros Pharmaceuticals by 101.5% in the second quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock valued at $178,000 after buying an additional 17,416 shares in the last quarter. Finally, Exome Asset Management LLC raised its holdings in shares of Syros Pharmaceuticals by 87.6% in the 3rd quarter. Exome Asset Management LLC now owns 298,575 shares of the company’s stock valued at $642,000 after buying an additional 139,400 shares during the period. Institutional investors and hedge funds own 91.47% of the company’s stock.

About Syros Pharmaceuticals

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.