Syros Pharmaceuticals (NASDAQ:SYRS) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a sell rating to a hold rating in a research report released on Tuesday morning.

A number of other analysts have also weighed in on the stock. Piper Sandler reaffirmed 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. HC Wainwright dropped their target price on Syros Pharmaceuticals from $15.00 to $6.00 and set a buy rating for the company in a research report on Tuesday, August 13th. Finally, JMP Securities decreased their price objective on Syros Pharmaceuticals from $12.00 to $4.00 and set a market outperform rating on the stock in a report on Tuesday, August 13th.

Syros Pharmaceuticals Trading Up 1.0 %

Shares of Syros Pharmaceuticals stock opened at $1.99 on Tuesday. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.97. The stock has a fifty day simple moving average of $2.05 and a 200 day simple moving average of $4.22. Syros Pharmaceuticals has a 12-month low of $1.43 and a 12-month high of $8.17. The company has a market capitalization of $53.35 million, a P/E ratio of -0.46 and a beta of 1.59.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.79) by $0.09. On average, sell-side analysts anticipate that Syros Pharmaceuticals will post -2.88 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Certuity LLC bought a new stake in shares of Syros Pharmaceuticals in the 2nd quarter worth about $109,000. Acadian Asset Management LLC boosted its holdings in shares of Syros Pharmaceuticals by 101.5% in the second quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock valued at $178,000 after purchasing an additional 17,416 shares during the period. Opaleye Management Inc. increased its stake in shares of Syros Pharmaceuticals by 119.1% during the first quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock valued at $4,213,000 after buying an additional 428,175 shares during the period. Virtu Financial LLC bought a new stake in shares of Syros Pharmaceuticals in the first quarter valued at about $64,000. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Syros Pharmaceuticals in the 1st quarter worth approximately $2,166,000. 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.