Syros Pharmaceuticals Inc (NASDAQ:SYRS) Expected to Announce Earnings of -$0.51 Per Share

Brokerages expect that Syros Pharmaceuticals Inc (NASDAQ:SYRS) will report earnings per share (EPS) of ($0.51) for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Syros Pharmaceuticals’ earnings, with estimates ranging from ($0.63) to ($0.46). Syros Pharmaceuticals posted earnings per share of ($0.47) during the same quarter last year, which would indicate a negative year over year growth rate of 8.5%. The company is expected to report its next quarterly earnings results on Thursday, November 7th.

On average, analysts expect that Syros Pharmaceuticals will report full year earnings of ($1.94) per share for the current fiscal year, with EPS estimates ranging from ($2.07) to ($1.84). For the next fiscal year, analysts forecast that the firm will report earnings of ($1.97) per share, with EPS estimates ranging from ($2.34) to ($1.68). Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Syros Pharmaceuticals.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.06). The business had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.42 million. Syros Pharmaceuticals had a negative return on equity of 79.79% and a negative net margin of 3,137.55%.

A number of analysts have recently weighed in on SYRS shares. BidaskClub upgraded shares of Syros Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday. 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 on the stock. HC Wainwright set a $10.00 price target on shares of Syros Pharmaceuticals and gave the company a “hold” rating in a research report on Friday. Zacks Investment Research upgraded shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, September 28th. Finally, ValuEngine upgraded shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Syros Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $15.03.

In related news, Director Richard A. Young sold 25,000 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 14.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in SYRS. Sumitomo Mitsui Trust Holdings Inc. grew its position in Syros Pharmaceuticals by 132.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,589,045 shares of the company’s stock valued at $14,715,000 after buying an additional 904,570 shares during the period. Nikko Asset Management Americas Inc. grew its position in Syros Pharmaceuticals by 336.5% during the second quarter. Nikko Asset Management Americas Inc. now owns 2,987,763 shares of the company’s stock valued at $27,667,000 after buying an additional 2,303,288 shares during the period. ARK Investment Management LLC grew its position in Syros Pharmaceuticals by 26.7% during the second quarter. ARK Investment Management LLC now owns 3,791,756 shares of the company’s stock valued at $35,112,000 after buying an additional 799,056 shares during the period. JPMorgan Chase & Co. grew its position in Syros Pharmaceuticals by 1.7% during the second quarter. JPMorgan Chase & Co. now owns 407,843 shares of the company’s stock valued at $3,242,000 after buying an additional 6,771 shares during the period. Finally, Bank of Montreal Can grew its position in Syros Pharmaceuticals by 11,319.2% during the second quarter. Bank of Montreal Can now owns 2,969 shares of the company’s stock valued at $27,000 after buying an additional 2,943 shares during the period. Institutional investors own 82.08% of the company’s stock.

Shares of NASDAQ:SYRS traded down $0.18 during midday trading on Wednesday, reaching $6.56. The company’s stock had a trading volume of 18,465 shares, compared to its average volume of 230,358. The firm has a market capitalization of $295.37 million, a PE ratio of -3.43 and a beta of 1.61. Syros Pharmaceuticals has a twelve month low of $5.17 and a twelve month high of $11.93. The stock has a fifty day moving average of $9.99 and a 200 day moving average of $8.23. The company has a quick ratio of 8.11, a current ratio of 8.11 and a debt-to-equity ratio of 0.15.

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.

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Earnings History and Estimates for Syros Pharmaceuticals (NASDAQ:SYRS)

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