Syros Pharmaceuticals’ (SYRS) Buy Rating Reiterated at HC Wainwright

Syros Pharmaceuticals (NASDAQ:SYRS)‘s stock had its “buy” rating reissued by research analysts at HC Wainwright in a research note issued on Wednesday, Benzinga reports. They currently have a $15.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 158.62% from the company’s previous close.

A number of other equities analysts also recently commented on the stock. StockNews.com raised shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. Piper Sandler reaffirmed an “overweight” rating and set a $13.00 price target on shares of Syros Pharmaceuticals in a research report on Wednesday, April 3rd.

Syros Pharmaceuticals Stock Performance

Shares of NASDAQ:SYRS opened at $5.80 on Wednesday. The company has a market capitalization of $155.03 million, a price-to-earnings ratio of -1.16 and a beta of 1.70. Syros Pharmaceuticals has a 52 week low of $2.09 and a 52 week high of $8.17. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 1.97. The firm has a 50 day moving average of $5.26 and a 200 day moving average of $6.06.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings data on Tuesday, May 14th. The company reported ($0.79) EPS for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.10. Syros Pharmaceuticals had a negative net margin of 1,656.34% and a negative return on equity of 395.36%. During the same period in the prior year, the business earned ($0.85) earnings per share. On average, sell-side analysts predict that Syros Pharmaceuticals will post -3.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Syros Pharmaceuticals

A number of large investors have recently made changes to their positions in the business. Bain Capital Life Sciences Investors LLC increased its position in shares of Syros Pharmaceuticals by 29.4% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock valued at $21,421,000 after acquiring an additional 625,114 shares during the period. Avidity Partners Management LP boosted its stake in shares of Syros Pharmaceuticals by 5.8% during the 4th quarter. Avidity Partners Management LP now owns 1,673,538 shares of the company’s stock worth $13,037,000 after acquiring an additional 92,396 shares in the last quarter. Flagship Pioneering Inc. boosted its stake in shares of Syros Pharmaceuticals by 30.2% during the 4th quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock worth $10,079,000 after acquiring an additional 300,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Syros Pharmaceuticals by 21.3% during the 1st 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 in the last quarter. Finally, Opaleye Management Inc. boosted its stake in shares of Syros Pharmaceuticals by 119.1% during the 1st 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 in the last quarter. 91.47% of the stock is owned by institutional investors and hedge funds.

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.