Syros Pharmaceuticals (NASDAQ:SYRS) Earns Hold Rating from TD Cowen

Syros Pharmaceuticals (NASDAQ:SYRS)‘s stock had its “hold” rating reaffirmed by equities researchers at TD Cowen in a report issued on Wednesday, MarketBeat reports.

A number of other research analysts also recently issued reports on SYRS. JMP Securities dropped their price objective on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $6.00 price target on shares of Syros Pharmaceuticals in a report on Friday, November 1st. StockNews.com lowered shares of Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, Piper Sandler reissued an “overweight” rating and set a $5.00 target price (down from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th. 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.33.

Syros Pharmaceuticals Stock Performance

Shares of SYRS stock opened at $0.28 on Wednesday. The firm has a market capitalization of $7.38 million, a price-to-earnings ratio of -0.11 and a beta of 1.59. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.97. The business’s 50-day moving average price is $2.04 and its 200-day moving average price is $3.81. Syros Pharmaceuticals has a 12 month low of $0.27 and a 12 month high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its earnings results on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.08. During the same quarter last year, the company earned ($1.35) EPS. Equities research analysts forecast that Syros Pharmaceuticals will post -2.94 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Jason Haas bought 45,344 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average price of $1.68 per share, for a total transaction of $76,177.92. Following the completion of the transaction, the chief financial officer now directly owns 124,552 shares in the company, valued at approximately $209,247.36. The trade was a 57.25 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Conley Chee purchased 50,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average cost 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 of the company’s stock, valued at approximately $109,481.04. This represents a 222.18 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 130,707 shares of company stock valued at $206,491 in the last 90 days. 12.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Syros Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings 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 worth $4,965,000 after purchasing an additional 163,234 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Syros Pharmaceuticals during the 1st quarter valued at $91,000. Kennedy Capital Management LLC purchased a new position in Syros Pharmaceuticals in the 1st quarter worth $2,166,000. Virtu Financial LLC bought a new position in shares of Syros Pharmaceuticals during the first quarter valued at about $64,000. Finally, Opaleye Management Inc. lifted its stake in shares of Syros Pharmaceuticals by 119.1% in the 1st 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. 91.47% of the stock is currently owned by 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.