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

Investment analysts at StockNews.com started coverage on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a research report issued on Thursday. The brokerage set a “sell” rating on the stock.

Several other research analysts have also commented on SYRS. Brookline Capital Management reiterated a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Piper Sandler reiterated an “overweight” rating and issued a $5.00 target price (down previously from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. TD Cowen restated a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. JMP Securities restated a “market perform” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. Finally, HC Wainwright reiterated a “neutral” rating and set a $1.00 price objective (down previously from $6.00) on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Syros Pharmaceuticals has an average rating of “Hold” and a consensus price target of $3.33.

Syros Pharmaceuticals Stock Up 12.8 %

Shares of SYRS opened at $0.29 on Thursday. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.25 and a quick ratio of 2.25. The stock has a market capitalization of $7.87 million, a price-to-earnings ratio of -0.09 and a beta of 1.59. Syros Pharmaceuticals has a 1 year low of $0.18 and a 1 year high of $8.17. The business’s 50 day simple moving average is $1.89 and its 200-day simple moving average is $3.61.

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

Insider Activity at Syros Pharmaceuticals

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

Hedge Funds Weigh In On Syros Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 period. Acadian Asset Management LLC purchased a new stake in Syros Pharmaceuticals during the first quarter worth $91,000. Kennedy Capital Management LLC purchased a new stake in Syros Pharmaceuticals during the first quarter worth $2,166,000. Virtu Financial LLC bought a new stake in Syros Pharmaceuticals during the 1st quarter valued at $64,000. Finally, Opaleye Management Inc. increased 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 valued at $4,213,000 after acquiring an additional 428,175 shares during the period. Institutional investors own 91.47% of the company’s stock.

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.