Syros Pharmaceuticals (NASDAQ:SYRS) Receives Neutral Rating from HC Wainwright

Syros Pharmaceuticals (NASDAQ:SYRS)‘s stock had its “neutral” rating reissued by research analysts at HC Wainwright in a report released on Wednesday, Marketbeat reports. They presently have a $1.00 target price on the stock, down from their previous target price of $6.00. HC Wainwright’s target price suggests a potential upside of 263.50% from the company’s previous close.

Several other analysts have also commented on SYRS. Piper Sandler reaffirmed an “overweight” rating and set a $5.00 price target (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. JMP Securities cut their target price 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. TD Cowen reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday. Finally, StockNews.com downgraded Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $3.33.

Syros Pharmaceuticals Stock Down 23.4 %

Shares of SYRS opened at $0.28 on Wednesday. Syros Pharmaceuticals has a 52-week low of $0.27 and a 52-week high of $8.17. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.97. The stock has a fifty day simple moving average of $2.04 and a two-hundred day simple moving average of $3.81. The company has a market capitalization of $7.38 million, a PE ratio of -0.11 and a beta of 1.59.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.08. During the same quarter last year, the firm earned ($1.35) EPS. As a group, equities analysts forecast that Syros Pharmaceuticals will post -2.94 EPS for the current year.

Insider Buying and Selling at Syros Pharmaceuticals

In other news, CEO Conley Chee bought 50,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average cost of $1.51 per share, for a total transaction of $75,500.00. Following the acquisition, the chief executive officer now directly owns 72,504 shares of the company’s stock, valued at $109,481.04. The trade was a 222.18 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jason Haas bought 35,363 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average cost of $1.55 per share, with a total value of $54,812.65. Following the completion of the transaction, the chief financial officer now owns 59,915 shares in the company, valued at $92,868.25. This represents a 144.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 130,707 shares of company stock valued at $206,491 over the last quarter. 12.26% of the stock is owned by company insiders.

Institutional Trading of Syros Pharmaceuticals

Hedge funds have recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new position in shares of Syros Pharmaceuticals in the third quarter valued at approximately $34,000. Virtu Financial LLC purchased a new position in Syros Pharmaceuticals in the 1st quarter valued at approximately $64,000. Acadian Asset Management LLC purchased a new position in Syros Pharmaceuticals in the 1st quarter valued at approximately $91,000. Certuity LLC acquired a new position in shares of Syros Pharmaceuticals in the second quarter worth $109,000. Finally, Kennedy Capital Management LLC purchased a new stake in shares of Syros Pharmaceuticals during the first quarter worth $2,166,000. 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.