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

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

A number of other equities research analysts have also issued reports on the company. Brookline Capital Management reissued a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. HC Wainwright reissued a “neutral” rating and set a $1.00 price objective (down previously from $6.00) on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. JMP Securities reaffirmed a “market perform” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. Finally, TD Cowen reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. One investment 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.33.

Syros Pharmaceuticals Stock Performance

SYRS opened at $0.23 on Tuesday. 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 company has a market cap of $6.17 million, a price-to-earnings ratio of -0.08 and a beta of 1.34. Syros Pharmaceuticals has a 12-month low of $0.18 and a 12-month high of $8.17. The company’s 50 day moving average is $0.87 and its 200 day moving average is $2.58.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.08. During the same period in the previous year, the firm posted ($1.35) earnings per share. On average, equities research analysts predict that Syros Pharmaceuticals will post -2.94 EPS for the current year.

Insiders Place Their Bets

In other news, Director Nancy A. Simonian sold 134,713 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 41,070 shares in the company, valued at approximately $11,088.90. This represents a 76.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.26% of the stock is owned by insiders.

Institutional Trading of Syros Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Exome Asset Management LLC increased its position in shares of Syros Pharmaceuticals by 87.6% during the third quarter. Exome Asset Management LLC now owns 298,575 shares of the company’s stock worth $642,000 after acquiring an additional 139,400 shares during the period. Acadian Asset Management LLC raised its stake in 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. Certuity LLC purchased a new position in shares of Syros Pharmaceuticals in the 2nd quarter valued at $109,000. Finally, GSA Capital Partners LLP bought a new stake in Syros Pharmaceuticals during the third quarter valued at about $34,000. 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.