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

StockNews.com assumed coverage on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a report issued on Wednesday. The brokerage issued a sell rating on the stock.

Other analysts also recently issued research reports about the company. TD Cowen reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. Brookline Capital Management restated 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 research report on Wednesday, November 13th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $3.33.

Syros Pharmaceuticals Stock Performance

Shares of NASDAQ:SYRS opened at $0.23 on Wednesday. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.97. Syros Pharmaceuticals has a 1-year low of $0.18 and a 1-year high of $7.96. The stock has a market capitalization of $6.04 million, a P/E ratio of -0.07 and a beta of 1.31. The business has a 50-day moving average price of $0.58 and a two-hundred day moving average price of $2.35.

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

Insider Activity

In other Syros Pharmaceuticals news, Director Nancy A. Simonian sold 134,713 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $0.27, for a total value of $36,372.51. Following the completion of the sale, the director now owns 41,070 shares in the company, valued at $11,088.90. This trade represents a 76.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 12.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Syros Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. 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 valued at $178,000 after buying an additional 17,416 shares during the period. GSA Capital Partners LLP bought a new stake in Syros Pharmaceuticals in the 3rd quarter valued at $34,000. Finally, Exome Asset Management LLC lifted its holdings in Syros Pharmaceuticals by 87.6% during the 3rd quarter. Exome Asset Management LLC now owns 298,575 shares of the company’s stock valued at $642,000 after purchasing an additional 139,400 shares during the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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.