Syros Pharmaceuticals (NASDAQ:SYRS) Given Neutral Rating at HC Wainwright

Syros Pharmaceuticals (NASDAQ:SYRS)‘s stock had its “neutral” rating reissued by investment analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $1.00 target price on the stock, down from their prior target price of $6.00. HC Wainwright’s target price would indicate a potential downside of 63.37% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. TD Cowen reissued a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday. Piper Sandler reissued an “overweight” rating and set a $5.00 target price (down previously from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. StockNews.com downgraded Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Finally, JMP Securities dropped their price target on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Syros Pharmaceuticals has a consensus rating of “Hold” and an average target price of $3.33.

Syros Pharmaceuticals Stock Performance

Shares of SYRS stock opened at $2.73 on Wednesday. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.25 and a current ratio of 2.25. Syros Pharmaceuticals has a 52 week low of $1.43 and a 52 week high of $8.17. The company has a market capitalization of $73.25 million, a P/E ratio of -0.90 and a beta of 1.59. The company’s 50 day moving average price is $2.04 and its two-hundred day moving average price is $3.85.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.08. During the same quarter in the prior year, the firm earned ($1.35) earnings per share. On average, analysts expect that Syros Pharmaceuticals will post -2.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Syros Pharmaceuticals news, CFO Jason Haas purchased 45,344 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost of $1.68 per share, for a total transaction of $76,177.92. Following the acquisition, the chief financial officer now owns 124,552 shares of the company’s stock, valued at approximately $209,247.36. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Conley Chee purchased 50,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 72,504 shares of the company’s stock, valued at $109,481.04. This represents a 200.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Haas acquired 45,344 shares of Syros Pharmaceuticals stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $1.68 per share, with a total value of $76,177.92. Following the purchase, the chief financial officer now directly owns 124,552 shares in the company, valued at approximately $209,247.36. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 130,707 shares of company stock worth $206,491. Corporate insiders own 12.26% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SYRS. Virtu Financial LLC bought a new stake in shares of Syros Pharmaceuticals in the 1st quarter worth approximately $64,000. GSA Capital Partners LLP purchased a new position in Syros Pharmaceuticals during the third quarter valued at $34,000. Acadian Asset Management LLC purchased a new position in shares of Syros Pharmaceuticals in the first quarter worth $91,000. Certuity LLC purchased a new position in shares of Syros Pharmaceuticals in the second quarter worth $109,000. Finally, Vanguard Group Inc. raised its stake in shares of Syros Pharmaceuticals by 21.3% in the first quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock worth $4,965,000 after purchasing an additional 163,234 shares during the last quarter. Institutional investors own 91.47% of the company’s stock.

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.