Syros Pharmaceuticals (NASDAQ:SYRS) Announces Quarterly Earnings Results

by · The Markets Daily

Syros Pharmaceuticals (NASDAQ:SYRS – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.68) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.08, Zacks reports. During the same quarter last year, the company earned ($1.35) earnings per share.

Syros Pharmaceuticals Price Performance

NASDAQ:SYRS traded down $0.25 during trading hours on Friday, hitting $2.27. The company’s stock had a trading volume of 523,501 shares, compared to its average volume of 242,830. The company has a market capitalization of $60.86 million, a P/E ratio of -0.73 and a beta of 1.59. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.46 and a quick ratio of 3.46. The stock has a fifty day simple moving average of $1.91 and a 200-day simple moving average of $3.99. Syros Pharmaceuticals has a twelve month low of $1.43 and a twelve month high of $8.17.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JMP Securities decreased their price objective on shares of 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 reissued a “buy” rating and set a $6.00 price target on shares of Syros Pharmaceuticals in a research note on Friday. 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 reissued an “overweight” rating and set a $5.00 price objective (down previously from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th.

View Our Latest Stock Report on SYRS

Insider Transactions at Syros Pharmaceuticals

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

Syros Pharmaceuticals Company Profile

(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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