Syros Pharmaceuticals (NASDAQ:SYRS) Earns Buy Rating from HC Wainwright

Syros Pharmaceuticals (NASDAQ:SYRS)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $6.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 138.10% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. JMP Securities decreased their price target on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a report on Tuesday, August 13th. Piper Sandler reiterated an “overweight” rating and issued a $5.00 target price (down previously from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th. Finally, StockNews.com raised shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th.

Syros Pharmaceuticals Stock Performance

SYRS opened at $2.52 on Friday. The company has a market cap of $67.56 million, a price-to-earnings ratio of -0.59 and a beta of 1.59. The company’s fifty day moving average price is $1.91 and its two-hundred day moving average price is $3.99. Syros Pharmaceuticals has a 1-year low of $1.43 and a 1-year high of $8.17. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.97.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its 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 last year, the business posted ($1.35) earnings per share. On average, analysts expect that Syros Pharmaceuticals will post -3.06 EPS for the current fiscal year.

Insider Activity

In related news, CFO Jason Haas purchased 35,363 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $1.55 per share, with a total value of $54,812.65. Following the acquisition, the chief financial officer now owns 59,915 shares of the company’s stock, valued at $92,868.25. This represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Conley Chee bought 50,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost of $1.51 per share, with a total value of $75,500.00. Following the completion of the transaction, the chief executive officer now directly owns 72,504 shares of the company’s stock, valued at $109,481.04. This represents a 200.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jason Haas bought 35,363 shares of the stock in a transaction on Tuesday, September 10th. The stock was purchased at an average price of $1.55 per share, for a total transaction of $54,812.65. Following the completion of the purchase, the chief financial officer now owns 59,915 shares of the company’s stock, valued at approximately $92,868.25. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired a total of 130,707 shares of company stock valued at $206,491 in the last ninety days. 12.26% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Syros Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Syros Pharmaceuticals in the first quarter worth about $64,000. Acadian Asset Management LLC purchased a new position in Syros Pharmaceuticals in the 1st quarter valued at approximately $91,000. Certuity LLC bought a new stake in Syros Pharmaceuticals during the 2nd quarter valued at $109,000. Kennedy Capital Management LLC purchased a new stake in shares of Syros Pharmaceuticals during the first quarter worth $2,166,000. Finally, Opaleye Management Inc. boosted its holdings in shares of Syros Pharmaceuticals by 119.1% in the first quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock worth $4,213,000 after acquiring an additional 428,175 shares during the period. 91.47% of the stock is currently 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.