Syros Pharmaceuticals (NASDAQ:SYRS) Releases Earnings Results

Syros Pharmaceuticals (NASDAQ:SYRS) announced its quarterly earnings data on Thursday. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.08, Zacks reports. During the same quarter last year, the business earned ($1.35) earnings per share.

Syros Pharmaceuticals Stock Performance

Shares of SYRS traded down $0.25 during midday trading on Friday, reaching $2.27. 304,987 shares of the stock were exchanged, compared to its average volume of 241,841. The company has a market capitalization of $60.86 million, a price-to-earnings ratio of -0.73 and a beta of 1.59. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.46 and a quick ratio of 3.46. Syros Pharmaceuticals has a twelve month low of $1.43 and a twelve month high of $8.17. The business’s 50-day moving average price is $1.91 and its 200 day moving average price is $3.99.

Insider Buying and Selling

In other Syros Pharmaceuticals news, CFO Jason Haas purchased 45,344 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $1.68 per share, for a total transaction of $76,177.92. Following the purchase, the chief financial officer now directly owns 124,552 shares in the company, valued at approximately $209,247.36. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Conley Chee purchased 50,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average price of $1.51 per share, for a total transaction 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 trade represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jason Haas acquired 45,344 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was purchased at an average price of $1.68 per share, for a total transaction of $76,177.92. Following the completion of the transaction, the chief financial officer now owns 124,552 shares in the company, valued at $209,247.36. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 130,707 shares of company stock worth $206,491 in the last quarter. 12.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SYRS has been the topic of a number of analyst reports. StockNews.com upgraded Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. JMP Securities cut their target price 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. Piper Sandler restated an “overweight” rating and set a $5.00 target price (down previously from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th. Finally, HC Wainwright reiterated a “buy” rating and issued a $6.00 price target on shares of Syros Pharmaceuticals in a research note on Friday.

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.