Syros Pharmaceuticals (NASDAQ:SYRS) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a research note published on Thursday morning. The firm issued a sell rating on the stock.

A number of other equities research analysts have also recently commented on the stock. HC Wainwright restated a “neutral” rating and issued a $1.00 price target (down from $6.00) on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. Brookline Capital Management restated a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. Piper Sandler restated an “overweight” rating and issued a $5.00 price objective (down from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th. TD Cowen restated a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. Finally, JMP Securities reissued a “market perform” 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 issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.33.

Syros Pharmaceuticals Stock Down 6.9 %

SYRS stock opened at $0.27 on Thursday. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.97. Syros Pharmaceuticals has a 52 week low of $0.18 and a 52 week high of $8.17. The company has a market cap of $7.24 million, a PE ratio of -0.09 and a beta of 1.59. The business has a 50-day simple moving average of $1.89 and a 200 day simple moving average of $3.61.

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

Insiders Place Their Bets

In related news, CFO Jason Haas purchased 45,344 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average price of $1.68 per share, for a total transaction of $76,177.92. Following the purchase, the chief financial officer now directly owns 124,552 shares of the company’s stock, valued at approximately $209,247.36. This represents a 57.25 % increase in their position. The acquisition was disclosed in a legal filing 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 on Tuesday, September 10th. The shares were purchased at an average price of $1.51 per share, with a total value of $75,500.00. Following the completion of the purchase, the chief executive officer now owns 72,504 shares in the company, valued at $109,481.04. This represents a 222.18 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 130,707 shares of company stock valued at $206,491 in the last quarter. Insiders own 12.26% of the company’s stock.

Hedge Funds Weigh In On Syros Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in SYRS. Kennedy Capital Management LLC purchased a new position in shares of Syros Pharmaceuticals during the first quarter valued at approximately $2,166,000. Vanguard Group Inc. grew its holdings in Syros Pharmaceuticals by 21.3% during the first quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock valued at $4,965,000 after purchasing an additional 163,234 shares during the period. Virtu Financial LLC purchased a new stake in Syros Pharmaceuticals in the first quarter worth about $64,000. Acadian Asset Management LLC bought a new position in shares of Syros Pharmaceuticals in the first quarter worth about $91,000. Finally, Certuity LLC bought a new stake in Syros Pharmaceuticals during the 2nd quarter worth approximately $109,000. 91.47% of the stock is currently owned by hedge funds and other 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.