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

Syros Pharmaceuticals (NASDAQ:SYRS) 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 period in the previous year, the company posted ($1.35) EPS.

Syros Pharmaceuticals Price Performance

NASDAQ SYRS traded down $0.25 on Friday, reaching $2.27. The company had a trading volume of 523,538 shares, compared to its average volume of 417,187. Syros Pharmaceuticals has a fifty-two week low of $1.43 and a fifty-two week high of $8.17. The business has a 50 day moving average of $1.92 and a two-hundred day moving average of $3.97. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.46 and a current ratio of 3.46.

Analysts Set New Price Targets

SYRS has been the subject of a number of analyst reports. StockNews.com raised Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th. Piper Sandler reaffirmed an “overweight” rating and set a $5.00 price objective (down previously from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and issued a $6.00 price target on shares of Syros Pharmaceuticals in a research report on Friday. Finally, JMP Securities reduced their target price 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 Buying and Selling at Syros Pharmaceuticals

In related news, CEO Conley Chee acquired 50,000 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were bought 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 directly owns 72,504 shares of the company’s stock, valued at $109,481.04. This trade represents a 200.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Conley Chee acquired 50,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was purchased at an average price 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 position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jason Haas purchased 45,344 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were bought at an average price of $1.68 per share, with a total value of $76,177.92. Following the purchase, the chief financial officer now owns 124,552 shares in the company, valued at $209,247.36. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 130,707 shares of company stock valued at $206,491. 12.26% of the stock is currently owned by insiders.

About Syros Pharmaceuticals

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.