Syros Pharmaceuticals (NASDAQ:SYRS) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a research report sent to investors on Friday morning. The brokerage issued a sell rating on the stock.

SYRS has been the subject of several other research reports. TD Cowen restated a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. HC Wainwright restated a “neutral” rating and set a $1.00 price objective (down from $6.00) on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. Brookline Capital Management reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a research report on Wednesday, November 13th. JMP Securities reiterated a “market perform” rating on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th. Finally, Piper Sandler restated an “overweight” rating and issued a $5.00 price target (down from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th. One research 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, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.33.

Syros Pharmaceuticals Price Performance

NASDAQ SYRS opened at $0.27 on Friday. The stock has a market cap of $7.28 million, a price-to-earnings ratio of -0.09 and a beta of 1.59. Syros Pharmaceuticals has a 52-week low of $0.18 and a 52-week high of $8.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.25 and a current ratio of 2.25. The business has a 50 day simple moving average of $1.68 and a 200 day simple moving average of $3.39.

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

Insider Transactions at Syros Pharmaceuticals

In related news, CFO Jason Haas acquired 35,363 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average cost of $1.55 per share, for a total transaction of $54,812.65. Following the completion of the acquisition, the chief financial officer now directly owns 59,915 shares in the company, valued at approximately $92,868.25. This trade represents a 144.03 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Nancy A. Simonian sold 134,713 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $0.27, for a total transaction of $36,372.51. Following the completion of the transaction, the director now directly owns 41,070 shares in the company, valued at $11,088.90. The trade was a 76.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 130,707 shares of company stock worth $206,491 in the last ninety days. Insiders own 12.26% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Syros Pharmaceuticals by 21.3% during the first quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock worth $4,965,000 after acquiring an additional 163,234 shares during the last quarter. Certuity LLC bought a new position in shares of Syros Pharmaceuticals during the second quarter worth approximately $109,000. Acadian Asset Management LLC lifted its holdings in Syros Pharmaceuticals by 101.5% during the 2nd quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock worth $178,000 after purchasing an additional 17,416 shares during the last quarter. GSA Capital Partners LLP bought a new stake in Syros Pharmaceuticals in the 3rd quarter valued at $34,000. Finally, Virtu Financial LLC acquired a new position in Syros Pharmaceuticals in the 1st quarter valued at $64,000. Institutional investors and hedge funds 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.