Syros Pharmaceuticals’ (SYRS) “Market Perform” Rating Reaffirmed at JMP Securities

JMP Securities reiterated their market perform rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a report released on Wednesday morning,Benzinga reports.

Other research analysts also recently issued reports about the company. HC Wainwright reissued a “neutral” rating and issued a $1.00 price target (down from $6.00) on shares of Syros Pharmaceuticals in a report on Wednesday. TD Cowen reiterated a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday. Piper Sandler restated an “overweight” rating and set a $5.00 price target (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. Finally, StockNews.com downgraded shares of Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.33.

Syros Pharmaceuticals Stock Down 86.8 %

NASDAQ:SYRS opened at $0.36 on Wednesday. The firm has a market capitalization of $9.63 million, a P/E ratio of -0.12 and a beta of 1.59. The company’s fifty day moving average price is $2.07 and its 200-day moving average price is $3.84. Syros Pharmaceuticals has a 1-year low of $0.35 and a 1-year high of $8.17. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.25 and a quick ratio of 2.25.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings data on Thursday, October 31st. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.08. During the same period in the previous year, the business posted ($1.35) EPS. As a group, equities research analysts anticipate that Syros Pharmaceuticals will post -2.94 EPS for the current year.

Insider Buying and Selling

In related news, CEO Conley Chee acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were acquired at an average cost of $1.51 per share, with a total value of $75,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 72,504 shares in the company, valued at approximately $109,481.04. This trade represents a 200.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Conley Chee acquired 50,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $1.51 per share, for a total transaction of $75,500.00. Following the purchase, the chief executive officer now owns 72,504 shares in the company, valued at approximately $109,481.04. This represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jason Haas bought 35,363 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was purchased at an average price of $1.55 per share, for a total transaction of $54,812.65. Following the transaction, the chief financial officer now owns 59,915 shares of the company’s stock, valued at approximately $92,868.25. This represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 130,707 shares of company stock valued at $206,491. 12.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Syros Pharmaceuticals

A number of large investors have recently modified their holdings of SYRS. GSA Capital Partners LLP purchased a new position in shares of Syros Pharmaceuticals in the third quarter worth about $34,000. Virtu Financial LLC purchased a new stake in Syros Pharmaceuticals during the 1st quarter valued at about $64,000. Acadian Asset Management LLC acquired a new stake in Syros Pharmaceuticals in the 1st quarter valued at about $91,000. Certuity LLC purchased a new position in Syros Pharmaceuticals in the 2nd quarter worth approximately $109,000. Finally, Kennedy Capital Management LLC acquired a new position in shares of Syros Pharmaceuticals during the 1st quarter worth approximately $2,166,000. Hedge funds and other 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.