HC Wainwright Reaffirms “Buy” Rating for Syros Pharmaceuticals (NASDAQ:SYRS)

HC Wainwright reissued their buy rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a report published on Wednesday morning, Benzinga reports. HC Wainwright currently has a $15.00 target price on the stock.

Several other research analysts also recently weighed in on the stock. StockNews.com raised shares of Syros Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, May 15th. Piper Sandler reiterated an overweight rating and issued a $13.00 target price on shares of Syros Pharmaceuticals in a research report on Wednesday, April 3rd.

Syros Pharmaceuticals Stock Performance

Shares of SYRS stock opened at $5.16 on Wednesday. The company has a 50 day moving average price of $5.30 and a 200-day moving average price of $6.07. The firm has a market capitalization of $137.93 million, a PE ratio of -1.03 and a beta of 1.70. The company has a quick ratio of 3.01, a current ratio of 3.01 and a debt-to-equity ratio of 1.97. Syros Pharmaceuticals has a 52 week low of $2.09 and a 52 week high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its earnings results on Tuesday, May 14th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.10. Syros Pharmaceuticals had a negative return on equity of 395.36% and a negative net margin of 1,656.34%. During the same period in the previous year, the business earned ($0.85) EPS. As a group, equities research analysts expect that Syros Pharmaceuticals will post -3.19 earnings per share for the current year.

Hedge Funds Weigh In On Syros Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of SYRS. Bain Capital Life Sciences Investors LLC lifted its stake in shares of Syros Pharmaceuticals by 29.4% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock worth $21,421,000 after buying an additional 625,114 shares during the period. Avidity Partners Management LP boosted its stake in shares of Syros Pharmaceuticals by 5.8% in the 4th quarter. Avidity Partners Management LP now owns 1,673,538 shares of the company’s stock valued at $13,037,000 after buying an additional 92,396 shares during the period. Flagship Pioneering Inc. raised its holdings in Syros Pharmaceuticals by 30.2% in the fourth quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock valued at $10,079,000 after acquiring an additional 300,000 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of 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 purchasing an additional 163,234 shares in the last quarter. Finally, Opaleye Management Inc. boosted its position 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 hedge funds and other 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.