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

Syros Pharmaceuticals (NASDAQ:SYRS)‘s stock had its “neutral” rating reissued by equities researchers at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They presently have a $1.00 price objective on the stock, down from their previous price objective of $6.00. HC Wainwright’s target price suggests a potential downside of 63.37% from the stock’s previous close.

A number of other research analysts have also issued reports on SYRS. Piper Sandler restated an “overweight” rating and issued a $5.00 target price (down from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. TD Cowen reissued a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday. StockNews.com downgraded shares of Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Finally, JMP Securities lowered 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 research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $3.33.

Syros Pharmaceuticals Trading Down 15.5 %

Shares of SYRS stock opened at $2.73 on Wednesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.25 and a current ratio of 2.25. The stock has a market capitalization of $73.25 million, a P/E ratio of -0.90 and a beta of 1.59. The company has a 50 day moving average price of $2.04 and a 200 day moving average price of $3.85. Syros Pharmaceuticals has a fifty-two week low of $1.43 and a fifty-two week high of $8.17.

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

Insider Activity

In other Syros Pharmaceuticals news, CFO Jason Haas purchased 35,363 shares of the stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $1.55 per share, with a total value of $54,812.65. Following the completion of the acquisition, the chief financial officer now owns 59,915 shares of the company’s stock, valued at approximately $92,868.25. This trade represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Jason Haas bought 35,363 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average cost of $1.55 per share, with a total value of $54,812.65. Following the completion of the acquisition, the chief financial officer now directly owns 59,915 shares in the company, valued at approximately $92,868.25. The trade was a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Conley Chee acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were acquired at an average price 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 approximately $109,481.04. This trade represents a 200.00 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 130,707 shares of company stock valued at $206,491. Company insiders own 12.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SYRS. Opaleye Management Inc. grew its holdings 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 worth $4,213,000 after purchasing an additional 428,175 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in shares of Syros Pharmaceuticals in the 1st quarter worth about $2,166,000. Vanguard Group Inc. grew its holdings in shares of Syros Pharmaceuticals by 21.3% in the 1st 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 during the last quarter. Certuity LLC bought a new stake in Syros Pharmaceuticals during the 2nd quarter worth about $109,000. Finally, Acadian Asset Management LLC grew its holdings in Syros Pharmaceuticals by 101.5% during the 2nd quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock worth $178,000 after acquiring an additional 17,416 shares during the last quarter. 91.47% of the stock is 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.