Syros Pharmaceuticals (NASDAQ:SYRS) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a sell rating to a hold rating in a research report report published on Tuesday.

Several other equities research analysts have also recently weighed in on SYRS. JMP Securities dropped their price objective on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a report on Tuesday, August 13th. HC Wainwright dropped their price objective on Syros Pharmaceuticals from $15.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, August 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $5.00 target price (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th.

Syros Pharmaceuticals Trading Up 0.5 %

NASDAQ SYRS opened at $1.96 on Tuesday. Syros Pharmaceuticals has a fifty-two week low of $1.43 and a fifty-two week high of $8.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.46 and a current ratio of 3.46. The stock has a 50 day simple moving average of $1.86 and a two-hundred day simple moving average of $4.17. The stock has a market cap of $52.55 million, a P/E ratio of -0.46 and a beta of 1.59.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.79) by $0.09. On average, analysts forecast that Syros Pharmaceuticals will post -2.88 earnings per share for the current year.

Insider Transactions at Syros Pharmaceuticals

In other news, CEO Conley Chee bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $1.51 per share, with a total value of $75,500.00. Following the transaction, the chief executive officer now owns 72,504 shares of the company’s stock, valued at approximately $109,481.04. The trade was a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Jason Haas acquired 45,344 shares of Syros Pharmaceuticals stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of $1.68 per share, with a total value of $76,177.92. Following the transaction, the chief financial officer now directly owns 124,552 shares in the company, valued at approximately $209,247.36. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Conley Chee acquired 50,000 shares of Syros Pharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $1.51 per share, with a total value of $75,500.00. Following the transaction, the chief executive officer now owns 72,504 shares in the company, valued at $109,481.04. This represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders bought 130,707 shares of company stock valued at $206,491. Corporate insiders own 12.26% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in Syros Pharmaceuticals during the 1st quarter valued at approximately $64,000. Acadian Asset Management LLC bought a new stake in shares of Syros Pharmaceuticals in the 1st quarter worth $91,000. Certuity LLC bought a new stake in shares of Syros Pharmaceuticals in the 2nd quarter worth $109,000. Kennedy Capital Management LLC bought a new stake in shares of Syros Pharmaceuticals in the 1st quarter worth $2,166,000. Finally, Opaleye Management Inc. increased its holdings in shares of Syros Pharmaceuticals by 119.1% in the 1st quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock worth $4,213,000 after purchasing an additional 428,175 shares in the last quarter. Institutional investors own 91.47% of the company’s stock.

Syros Pharmaceuticals Company Profile

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.