Syros Pharmaceuticals (NASDAQ:SYRS) Earns “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a research report sent to investors on Friday, Benzinga reports. HC Wainwright currently has a $6.00 price target on the stock.

A number of other equities research analysts have also issued reports on SYRS. StockNews.com raised Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $5.00 price target (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. Finally, JMP Securities reduced their price target on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 13th.

Syros Pharmaceuticals Price Performance

Shares of Syros Pharmaceuticals stock opened at $2.43 on Friday. 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 moving average of $1.94 and a 200 day moving average of $3.94. Syros Pharmaceuticals has a 12 month low of $1.43 and a 12 month high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.08. During the same period last year, the business posted ($1.35) earnings per share. Equities analysts anticipate that Syros Pharmaceuticals will post -3.06 earnings per share for the current fiscal year.

Insider Transactions at Syros Pharmaceuticals

In other Syros Pharmaceuticals news, CFO Jason Haas bought 35,363 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average price of $1.55 per share, with a total value of $54,812.65. Following the transaction, the chief financial officer now owns 59,915 shares of the company’s stock, valued at approximately $92,868.25. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Conley Chee purchased 50,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average price of $1.51 per share, with a total value of $75,500.00. Following the completion of the transaction, the chief executive officer now directly owns 72,504 shares in the company, valued at approximately $109,481.04. This represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Haas purchased 35,363 shares of the business’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 transaction, the chief financial officer now owns 59,915 shares of the company’s stock, valued at $92,868.25. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 130,707 shares of company stock valued at $206,491. Corporate insiders own 12.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased 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 buying an additional 163,234 shares during the period. Opaleye Management Inc. grew its stake in shares of Syros Pharmaceuticals by 119.1% in the 1st quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock valued at $4,213,000 after purchasing an additional 428,175 shares during the last quarter. Kennedy Capital Management LLC purchased a new position in shares of Syros Pharmaceuticals in the 1st quarter valued at approximately $2,166,000. Acadian Asset Management LLC grew its stake in shares of Syros Pharmaceuticals by 101.5% in the 2nd 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 last quarter. Finally, Certuity LLC purchased a new position in shares of Syros Pharmaceuticals in the 2nd quarter valued at approximately $109,000. Institutional investors and hedge funds own 91.47% of the company’s stock.

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.