Syros Pharmaceuticals (NASDAQ:SYRS) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a hold rating to a sell rating in a research note released on Monday.

Several other equities research analysts have also recently weighed in on the company. Piper Sandler restated an “overweight” rating and set a $5.00 target price (down from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $6.00 target price on shares of Syros Pharmaceuticals in a research note on Friday, November 1st. Finally, JMP Securities cut their target price on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 13th.

Syros Pharmaceuticals Trading Up 4.5 %

Shares of SYRS stock opened at $2.56 on Monday. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.97. The stock has a market cap of $68.68 million, a P/E ratio of -0.84 and a beta of 1.59. The stock has a 50 day simple moving average of $1.99 and a 200 day simple moving average of $3.90. Syros Pharmaceuticals has a 1 year low of $1.43 and a 1 year high of $8.17.

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

Insider Activity

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

Institutional Trading of Syros Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of SYRS. Opaleye Management Inc. increased its holdings in Syros Pharmaceuticals by 119.1% in the first quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock valued at $4,213,000 after purchasing an additional 428,175 shares during the period. Kennedy Capital Management LLC acquired a new stake in Syros Pharmaceuticals in the first quarter valued at $2,166,000. Vanguard Group Inc. grew its holdings in Syros Pharmaceuticals by 21.3% during the 1st quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock worth $4,965,000 after acquiring an additional 163,234 shares during the period. Certuity LLC acquired a new stake in Syros Pharmaceuticals during the 2nd quarter worth about $109,000. Finally, Acadian Asset Management LLC grew its holdings in Syros Pharmaceuticals by 101.5% during the 2nd quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock worth $178,000 after acquiring an additional 17,416 shares during the period. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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.