Syros Pharmaceuticals (NASDAQ:SYRS) Given “Buy” Rating at HC Wainwright

by · The Markets Daily

HC Wainwright restated their buy rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS – Free Report) in a research note released on Friday morning, Benzinga reports. The firm currently has a $6.00 price objective on the stock.

A number of other brokerages have also 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 on the stock in a report on Tuesday, August 13th. StockNews.com raised shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $5.00 price objective (down previously from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th.

Read Our Latest Stock Report on Syros Pharmaceuticals

Syros Pharmaceuticals Stock Performance

Shares of SYRS stock traded down $0.25 during mid-day trading on Friday, hitting $2.27. The stock had a trading volume of 523,538 shares, compared to its average volume of 417,187. The company’s 50-day simple moving average is $1.92 and its 200-day simple moving average is $3.97. 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 has a fifty-two week low of $1.43 and a fifty-two week high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.08. During the same quarter in the previous year, the firm earned ($1.35) EPS. As a group, sell-side analysts anticipate that Syros Pharmaceuticals will post -3.06 earnings per share for the current year.

Insider Activity

In other Syros Pharmaceuticals news, CFO Jason Haas acquired 35,363 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average cost of $1.55 per share, with a total value of $54,812.65. Following the purchase, the chief financial officer now owns 59,915 shares in the company, valued at approximately $92,868.25. The trade was a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Jason Haas bought 35,363 shares of the stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $1.55 per share, for a total transaction of $54,812.65. Following the acquisition, the chief financial officer now owns 59,915 shares in the company, valued at $92,868.25. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Conley Chee purchased 50,000 shares of the company’s stock in a transaction 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 directly owns 72,504 shares of the company’s stock, valued at $109,481.04. This represents a 200.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 130,707 shares of company stock worth $206,491 over the last 90 days. 12.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Syros Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of SYRS. Virtu Financial LLC acquired a new stake in Syros Pharmaceuticals during the first quarter worth approximately $64,000. Acadian Asset Management LLC purchased a new stake in shares of Syros Pharmaceuticals in the first quarter valued at $91,000. Certuity LLC acquired a new position in Syros Pharmaceuticals in the second quarter valued at $109,000. Kennedy Capital Management LLC purchased a new position in Syros Pharmaceuticals during the first quarter worth about $2,166,000. Finally, Opaleye Management Inc. boosted its stake in 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 buying an additional 428,175 shares during the last quarter. 91.47% of the stock is currently owned by hedge funds and other institutional investors.

About Syros Pharmaceuticals

(Get Free Report)

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.

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