Syros Pharmaceuticals (NASDAQ:SYRS) Releases Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Syros Pharmaceuticals (NASDAQ:SYRS) announced its quarterly earnings data on Thursday. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.08, Zacks reports. During the same quarter last year, the firm posted ($1.35) earnings per share.

Syros Pharmaceuticals Price Performance

Shares of NASDAQ SYRS traded down $0.25 during trading on Friday, reaching $2.27. The company had a trading volume of 523,174 shares, compared to its average volume of 242,870. Syros Pharmaceuticals has a 52 week low of $1.43 and a 52 week high of $8.17. The business’s 50 day moving average price is $1.91 and its 200-day moving average price is $3.99. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.46 and a current ratio of 3.46. The stock has a market cap of $60.86 million, a PE ratio of -0.73 and a beta of 1.59.

Analyst Ratings Changes

SYRS has been the topic of several research analyst reports. 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. JMP Securities dropped their price target on shares of 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. StockNews.com upgraded Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price objective on shares of Syros Pharmaceuticals in a research note on Friday.

Insider Activity at Syros Pharmaceuticals

In other news, CEO Conley Chee purchased 50,000 shares of Syros Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $1.51 per share, with a total value of $75,500.00. Following the completion of the transaction, the chief executive officer now directly owns 72,504 shares in the company, valued at $109,481.04. This trade represents a 200.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Jason Haas bought 45,344 shares of Syros Pharmaceuticals stock in a transaction that occurred on Thursday, September 12th. The stock was 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 in the company, valued at approximately $209,247.36. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Conley Chee acquired 50,000 shares of Syros Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The shares were purchased at an average cost of $1.51 per share, with a total value of $75,500.00. Following the completion of the transaction, the chief executive officer now directly owns 72,504 shares of the company’s stock, valued at $109,481.04. This trade represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 130,707 shares of company stock worth $206,491 over the last ninety days. Company insiders own 12.26% 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.