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 research report report published on Wednesday morning, Marketbeat reports.

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

Syros Pharmaceuticals Trading Down 5.7 %

NASDAQ:SYRS opened at $0.26 on Wednesday. The firm’s 50 day moving average is $1.99 and its 200 day moving average is $3.75. Syros Pharmaceuticals has a 12 month low of $0.25 and a 12 month high of $8.17. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.97.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.08. During the same period in the prior year, the business earned ($1.35) earnings per share. Equities research analysts expect that Syros Pharmaceuticals will post -2.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Syros Pharmaceuticals news, CEO Conley Chee bought 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, for a total transaction of $75,500.00. Following the purchase, the chief executive officer now directly owns 72,504 shares of the company’s stock, valued at $109,481.04. The trade was a 222.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Haas purchased 35,363 shares of the stock in a transaction on Tuesday, September 10th. The stock was acquired at an average cost 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 approximately $92,868.25. This represents a 144.03 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 130,707 shares of company stock worth $206,491 in the last three months. 12.26% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Syros Pharmaceuticals

Several hedge funds have recently bought and sold shares of SYRS. Virtu Financial LLC purchased a new stake in shares of Syros Pharmaceuticals during the 1st quarter valued at $64,000. GSA Capital Partners LLP purchased a new stake in Syros Pharmaceuticals during the third quarter valued at about $34,000. Acadian Asset Management LLC bought a new stake in Syros Pharmaceuticals during the first quarter worth about $91,000. Certuity LLC purchased a new position in shares of Syros Pharmaceuticals in the 2nd quarter worth about $109,000. Finally, Kennedy Capital Management LLC bought a new position in shares of Syros Pharmaceuticals during the 1st quarter valued at about $2,166,000. 91.47% of the stock is currently owned by institutional investors.

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.