HC Wainwright Reaffirms “Buy” Rating for Syros Pharmaceuticals (NASDAQ:SYRS)

Syros Pharmaceuticals (NASDAQ:SYRS)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $15.00 price objective on the stock. HC Wainwright’s price objective suggests a potential upside of 161.78% from the company’s previous close.

Several other research analysts have also recently commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $13.00 price target on shares of Syros Pharmaceuticals in a research note on Wednesday, April 3rd. StockNews.com upgraded Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th.

Syros Pharmaceuticals Trading Up 0.5 %

SYRS stock opened at $5.73 on Wednesday. Syros Pharmaceuticals has a 52 week low of $2.09 and a 52 week high of $8.17. The company has a market cap of $153.16 million, a price-to-earnings ratio of -1.14 and a beta of 1.70. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 1.97. The business has a fifty day simple moving average of $5.29 and a 200-day simple moving average of $6.06.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings data on Tuesday, May 14th. The company reported ($0.79) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.10. Syros Pharmaceuticals had a negative return on equity of 395.36% and a negative net margin of 1,656.34%. During the same period in the prior year, the business posted ($0.85) EPS. On average, equities research analysts expect that Syros Pharmaceuticals will post -3.19 EPS for the current year.

Institutional Investors Weigh In On Syros Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of SYRS. Bain Capital Life Sciences Investors LLC lifted its stake in Syros Pharmaceuticals by 29.4% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock worth $21,421,000 after acquiring an additional 625,114 shares in the last quarter. Avidity Partners Management LP increased its stake in Syros Pharmaceuticals by 5.8% in the 4th quarter. Avidity Partners Management LP now owns 1,673,538 shares of the company’s stock valued at $13,037,000 after buying an additional 92,396 shares during the period. Flagship Pioneering Inc. lifted its position in Syros Pharmaceuticals by 30.2% in the 4th quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock worth $10,079,000 after buying an additional 300,000 shares in the last quarter. Opaleye Management Inc. acquired a new stake in shares of Syros Pharmaceuticals during the 4th quarter valued at $2,799,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Syros Pharmaceuticals by 576.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 169,999 shares of the company’s stock valued at $909,000 after acquiring an additional 144,869 shares in the last quarter. 91.47% of the stock is currently owned by institutional investors.

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.