HC Wainwright Comments on Syros Pharmaceuticals, Inc.’s Q3 2024 Earnings (NASDAQ:SYRS)

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) – Equities researchers at HC Wainwright upped their Q3 2024 EPS estimates for Syros Pharmaceuticals in a report issued on Thursday, August 1st. HC Wainwright analyst A. Fein now anticipates that the company will post earnings per share of ($0.72) for the quarter, up from their prior estimate of ($0.74). HC Wainwright has a “Buy” rating and a $15.00 price target on the stock. The consensus estimate for Syros Pharmaceuticals’ current full-year earnings is ($3.08) per share. HC Wainwright also issued estimates for Syros Pharmaceuticals’ Q4 2024 earnings at ($0.73) EPS, FY2024 earnings at ($2.94) EPS, FY2025 earnings at ($2.96) EPS, FY2026 earnings at ($2.28) EPS, FY2027 earnings at ($1.40) EPS and FY2028 earnings at $1.50 EPS.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.10. Syros Pharmaceuticals had a negative return on equity of 850.20% and a negative net margin of 1,656.34%. During the same period in the prior year, the company earned ($0.85) earnings per share.

Separately, StockNews.com upgraded shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th.

Syros Pharmaceuticals Stock Up 2.9 %

SYRS opened at $5.35 on Monday. The stock has a market capitalization of $143.43 million, a price-to-earnings ratio of -1.07 and a beta of 1.53. Syros Pharmaceuticals has a 12 month low of $2.09 and a 12 month high of $8.17. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.46 and a quick ratio of 3.01. The business has a 50-day moving average of $5.59 and a two-hundred day moving average of $5.91.

Institutional Investors Weigh In On Syros Pharmaceuticals

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

Insider Buying and Selling at Syros Pharmaceuticals

In other news, Director Richard A. Young sold 34,837 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $5.12, for a total value of $178,365.44. Following the transaction, the director now directly owns 8,000 shares in the company, valued at approximately $40,960. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 12.26% of the stock is owned by company insiders.

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.