HC Wainwright Cuts Syros Pharmaceuticals (NASDAQ:SYRS) Price Target to $6.00

Syros Pharmaceuticals (NASDAQ:SYRS) had its target price dropped by HC Wainwright from $15.00 to $6.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 271.52% from the company’s current price.

Several other brokerages have also recently issued reports on SYRS. JMP Securities decreased their price target on shares of Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a research report on Tuesday. StockNews.com upgraded shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th.

Syros Pharmaceuticals Trading Down 15.9 %

Shares of NASDAQ SYRS opened at $1.62 on Tuesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.46 and a current ratio of 3.46. Syros Pharmaceuticals has a 52-week low of $1.56 and a 52-week high of $8.17. The firm has a 50 day moving average price of $5.45 and a two-hundred day moving average price of $5.80. The stock has a market cap of $43.30 million, a P/E ratio of -0.32 and a beta of 1.53.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its quarterly earnings results on Tuesday, May 14th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.89) by $0.10. Syros Pharmaceuticals had a negative net margin of 1,656.34% and a negative return on equity of 850.20%. During the same period in the previous year, the company posted ($0.85) earnings per share. As a group, equities analysts forecast that Syros Pharmaceuticals will post -3.08 EPS for the current year.

Insider Activity

In other news, Director Richard A. Young sold 34,837 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $5.12, for a total value of $178,365.44. Following the sale, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $40,960. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 12.26% of the company’s stock.

Institutional Investors Weigh In On Syros Pharmaceuticals

A number of institutional investors have recently modified their holdings of SYRS. Virtu Financial LLC bought a new stake in shares of Syros Pharmaceuticals in the 1st quarter valued at $64,000. Acadian Asset Management LLC bought a new stake in shares of Syros Pharmaceuticals in the 1st quarter valued at $91,000. Certuity LLC bought a new position in Syros Pharmaceuticals during the second quarter worth $109,000. Assenagon Asset Management S.A. boosted its stake in Syros Pharmaceuticals by 576.5% during the first 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. Finally, Kennedy Capital Management LLC bought a new position in Syros Pharmaceuticals during the first quarter worth $2,166,000. 91.47% of the stock is owned by 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.