Syros Pharmaceuticals (NASDAQ:SYRS) Earns Neutral Rating from HC Wainwright

Syros Pharmaceuticals (NASDAQ:SYRS)‘s stock had its “neutral” rating restated by stock analysts at HC Wainwright in a report issued on Wednesday, MarketBeat reports. They currently have a $1.00 price target on the stock, down from their prior price target of $6.00. HC Wainwright’s price target suggests a potential upside of 263.50% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Piper Sandler reissued an “overweight” rating and set a $5.00 price target (down from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. JMP Securities cut their price objective on shares of Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a report on Tuesday, August 13th. Finally, TD Cowen reiterated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $3.33.

Syros Pharmaceuticals Price Performance

NASDAQ:SYRS opened at $0.28 on Wednesday. The firm’s fifty day moving average is $2.04 and its two-hundred day moving average is $3.81. The firm has a market cap of $7.38 million, a price-to-earnings ratio of -0.11 and a beta of 1.59. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.25 and a current ratio of 2.25. Syros Pharmaceuticals has a one year low of $0.27 and a one year high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings data on Thursday, October 31st. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.08. During the same period last year, the firm posted ($1.35) earnings per share. Research analysts expect that Syros Pharmaceuticals will post -2.94 EPS for the current year.

Insider Activity at Syros Pharmaceuticals

In related news, CFO Jason Haas purchased 45,344 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $1.68 per share, with a total value of $76,177.92. Following the purchase, the chief financial officer now owns 124,552 shares of the company’s stock, valued at $209,247.36. This represents a 57.25 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Conley Chee acquired 50,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $1.51 per share, for a total transaction of $75,500.00. Following the completion of the acquisition, the chief executive officer now owns 72,504 shares in the company, valued at $109,481.04. The trade was a 222.18 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 130,707 shares of company stock valued at $206,491. 12.26% of the stock is owned by company insiders.

Institutional Trading of Syros Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Syros Pharmaceuticals by 21.3% in the 1st quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock valued at $4,965,000 after purchasing an additional 163,234 shares in the last quarter. Opaleye Management Inc. raised its position in shares of Syros Pharmaceuticals by 119.1% in the first quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock valued at $4,213,000 after buying an additional 428,175 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Syros Pharmaceuticals in the first quarter worth about $2,166,000. Acadian Asset Management LLC lifted 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 worth $178,000 after buying an additional 17,416 shares in the last quarter. Finally, Certuity LLC acquired a new position in Syros Pharmaceuticals during the second quarter worth about $109,000. 91.47% of the stock is currently owned by hedge funds and other institutional investors.

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.