Syros Pharmaceuticals (NASDAQ:SYRS) Posts Earnings Results, Beats Estimates By $0.08 EPS

Syros Pharmaceuticals (NASDAQ:SYRS) posted its quarterly earnings results on Thursday. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.08, Zacks reports. During the same period in the prior year, the company posted ($1.35) EPS.

Syros Pharmaceuticals Stock Down 9.9 %

Shares of SYRS traded down $0.25 during mid-day trading on Friday, reaching $2.27. The company had a trading volume of 523,501 shares, compared to its average volume of 242,830. 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 company has a market capitalization of $60.86 million, a price-to-earnings ratio of -0.73 and a beta of 1.59. The firm has a 50-day moving average price of $1.91 and a 200 day moving average price of $3.99. Syros Pharmaceuticals has a 52 week low of $1.43 and a 52 week high of $8.17.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SYRS. Piper Sandler reissued an “overweight” rating and issued a $5.00 price target (down from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. StockNews.com upgraded shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price target on shares of Syros Pharmaceuticals in a research note on Friday. Finally, JMP Securities decreased their price objective on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 13th.

Insider Activity at Syros Pharmaceuticals

In related news, CFO Jason Haas purchased 45,344 shares of the stock in a transaction dated Thursday, September 12th. The stock was purchased 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 $209,247.36. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Syros Pharmaceuticals news, CFO Jason Haas bought 45,344 shares of Syros Pharmaceuticals stock in a transaction on Thursday, September 12th. The stock was acquired at an average price of $1.68 per share, with a total value of $76,177.92. Following the acquisition, the chief financial officer now owns 124,552 shares in the company, valued at approximately $209,247.36. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Conley Chee bought 50,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was acquired 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. The trade was a 200.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 130,707 shares of company stock valued at $206,491 in the last 90 days. Corporate insiders own 12.26% 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.