Zacks Investment Research Lowers Syros Pharmaceuticals (NASDAQ:SYRS) to Sell

Zacks Investment Research lowered shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a hold rating to a sell rating in a research report released on Wednesday morning, Zacks.com reports.

According to Zacks, “Syros Pharmaceuticals, Inc. is a biopharmaceutical company. It focuses on treatments for cancer and immune-mediated diseases as well as building a pipeline of gene control medicines. The company’s product pipeline includes SY-1425, a selective RARa agonist for genomically defined subsets of patients with relapsed or refractory acute myeloid leukemia and relapsed high-risk myelodysplastic syndrome and SY-1365, a selective CDK7 inhibitor for acute leukemia which is in preclinical stage. Syros Pharmaceuticals, Inc. is based in Cambridge, Massachusetts. “

Other research analysts have also issued research reports about the stock. BidaskClub raised shares of Syros Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, July 12th. HC Wainwright reissued a neutral rating on shares of Syros Pharmaceuticals in a research note on Thursday, May 2nd. Roth Capital initiated coverage on shares of Syros Pharmaceuticals in a research note on Friday, July 12th. They issued a buy rating and a $17.00 price objective for the company. Wedbush reissued an outperform rating and issued a $13.00 price objective on shares of Syros Pharmaceuticals in a research note on Thursday, April 25th. Finally, ValuEngine raised shares of Syros Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. Syros Pharmaceuticals has an average rating of Buy and a consensus price target of $16.03.



NASDAQ SYRS opened at $10.83 on Wednesday. The firm has a 50 day simple moving average of $8.57 and a 200-day simple moving average of $7.50. The company has a debt-to-equity ratio of 0.15, a quick ratio of 8.11 and a current ratio of 8.11. Syros Pharmaceuticals has a one year low of $5.17 and a one year high of $13.16. The firm has a market cap of $466.40 million, a price-to-earnings ratio of -5.67 and a beta of 1.94.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.41) by ($0.06). Syros Pharmaceuticals had a negative net margin of 3,137.55% and a negative return on equity of 79.79%. The business had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $0.42 million. Equities analysts predict that Syros Pharmaceuticals will post -1.94 EPS for the current fiscal year.

In related news, Director Richard A. Young sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $10.00, for a total value of $250,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Venture Fund Vii L.P. Arch sold 63,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $7.77, for a total transaction of $489,510.00. The disclosure for this sale can be found here. 14.80% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Northern Trust Corp raised its holdings in Syros Pharmaceuticals by 0.7% in the fourth quarter. Northern Trust Corp now owns 306,167 shares of the company’s stock valued at $1,705,000 after acquiring an additional 2,179 shares in the last quarter. Bank of Montreal Can raised its holdings in Syros Pharmaceuticals by 11,319.2% in the second quarter. Bank of Montreal Can now owns 2,969 shares of the company’s stock valued at $27,000 after acquiring an additional 2,943 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in Syros Pharmaceuticals by 8.3% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 40,380 shares of the company’s stock worth $369,000 after purchasing an additional 3,100 shares in the last quarter. Alps Advisors Inc. raised its holdings in Syros Pharmaceuticals by 4.5% during the first quarter. Alps Advisors Inc. now owns 81,287 shares of the company’s stock worth $743,000 after purchasing an additional 3,519 shares in the last quarter. Finally, BNP Paribas Arbitrage SA acquired a new stake in Syros Pharmaceuticals during the first quarter worth approximately $48,000. 69.66% of the stock is currently 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 cancer and monogenic diseases, and building a pipeline of gene control medicines. Its lead product candidates include SY-1425, a selective retinoic acid receptor alpha agonist, which is in a Phase II clinical trial for genomically defined subsets of patients with acute myeloid leukemia (AML) and myelodysplastic syndrome; SY-1365, a selective cyclin-dependent kinase 7 (CDK7) inhibitor, which is in a Phase I clinical trial that is used for treating patients with solid tumors and blood cancers, including ovarian and breast cancer; and SY-5609, a CDK7 inhibitor, which is in preclinical studies to treat oncology patients.

Recommended Story: How is a Moving Average Calculated?

Get a free copy of the Zacks research report on Syros Pharmaceuticals (SYRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Syros Pharmaceuticals (NASDAQ:SYRS)

Receive News & Ratings for Syros Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syros Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.