Syros Pharmaceuticals (NASDAQ:SYRS) Given New $4.00 Price Target at JMP Securities

Syros Pharmaceuticals (NASDAQ:SYRS) had its target price reduced by analysts at JMP Securities from $12.00 to $4.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target suggests a potential upside of 147.68% from the company’s current price.

Other research analysts have also issued research reports about the company. StockNews.com raised Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. HC Wainwright reaffirmed a “buy” rating and issued a $15.00 target price on shares of Syros Pharmaceuticals in a research report on Thursday, August 1st.

Syros Pharmaceuticals Trading Down 15.9 %

Shares of Syros Pharmaceuticals stock opened at $1.62 on Tuesday. Syros Pharmaceuticals has a fifty-two week low of $1.56 and a fifty-two week high of $8.17. The firm has a market cap of $43.30 million, a PE ratio of -0.32 and a beta of 1.53. The business’s fifty day moving average is $5.45 and its two-hundred day moving average is $5.80. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 1.97.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings results on Tuesday, May 14th. The company reported ($0.79) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.89) by $0.10. Syros Pharmaceuticals had a negative return on equity of 850.20% and a negative net margin of 1,656.34%. During the same quarter last year, the firm posted ($0.85) EPS. Analysts anticipate that Syros Pharmaceuticals will post -3.08 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Richard A. Young sold 34,837 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $5.12, for a total value of $178,365.44. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $40,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.26% of the company’s stock.

Institutional Trading of Syros Pharmaceuticals

Several large investors have recently added to or reduced their stakes in SYRS. Bain Capital Life Sciences Investors LLC increased its holdings in Syros Pharmaceuticals by 29.4% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock valued at $21,421,000 after purchasing an additional 625,114 shares in the last quarter. Opaleye Management Inc. increased its holdings in 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 in the last quarter. Kennedy Capital Management LLC acquired a new stake in Syros Pharmaceuticals in the 1st quarter valued at $2,166,000. Flagship Pioneering Inc. increased its holdings in Syros Pharmaceuticals by 30.2% in the 4th quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock valued at $10,079,000 after purchasing an additional 300,000 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in Syros Pharmaceuticals by 21.3% in the 1st quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock valued at $4,965,000 after purchasing an additional 163,234 shares in the last quarter. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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.