Syros Pharmaceuticals (NASDAQ:SYRS) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a sell rating to a hold rating in a report issued 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. “

SYRS has been the topic of several other reports. BidaskClub upgraded Syros Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Saturday, September 14th. ValuEngine upgraded Syros Pharmaceuticals from a hold rating to a buy rating in a research report on Wednesday, September 11th. Finally, Roth Capital assumed coverage on Syros Pharmaceuticals in a research report on Friday, July 12th. They issued a buy rating and a $17.00 target price on the stock. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Syros Pharmaceuticals currently has a consensus rating of Buy and an average price target of $16.03.



Shares of Syros Pharmaceuticals stock opened at $11.20 on Wednesday. The company has a current ratio of 8.11, a quick ratio of 8.11 and a debt-to-equity ratio of 0.15. The business’s 50 day simple moving average is $10.12 and its 200-day simple moving average is $8.07. Syros Pharmaceuticals has a twelve month low of $5.17 and a twelve month high of $13.16.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.06). Syros Pharmaceuticals had a negative return on equity of 79.79% and a negative net margin of 3,137.55%. The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.42 million. Research analysts anticipate that Syros Pharmaceuticals will post -1.94 earnings per share for the current fiscal year.

In related news, 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 stock was sold at an average price of $7.77, for a total value of $489,510.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 disclosure for this sale can be found here. 14.80% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of SYRS. Bank of America Corp DE increased its position in Syros Pharmaceuticals by 205.9% in the 4th quarter. Bank of America Corp DE now owns 17,400 shares of the company’s stock valued at $98,000 after acquiring an additional 11,711 shares during the period. BNP Paribas Arbitrage SA bought a new position in Syros Pharmaceuticals during the 1st quarter valued at $48,000. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Syros Pharmaceuticals during the 1st quarter valued at $6,256,000. ARK Investment Management LLC boosted its stake in Syros Pharmaceuticals by 21.6% during the 1st quarter. ARK Investment Management LLC now owns 2,992,700 shares of the company’s stock valued at $27,353,000 after purchasing an additional 532,079 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. boosted its stake in Syros Pharmaceuticals by 336.5% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,987,763 shares of the company’s stock valued at $27,667,000 after purchasing an additional 2,303,288 shares in the last quarter. Hedge funds and other institutional investors own 82.08% of the company’s stock.

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.

Read More: What Are Cryptocurrencies?

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.