Syros Pharmaceuticals (NASDAQ:SYRS) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Syros Pharmaceuticals (NASDAQ:SYRSFree Report) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

SYRS has been the topic of several other research reports. HC Wainwright cut their price objective on Syros Pharmaceuticals from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Tuesday, August 13th. JMP Securities cut their price objective on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $5.00 price objective (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th.

Read Our Latest Research Report on SYRS

Syros Pharmaceuticals Stock Up 0.5 %

Shares of NASDAQ:SYRS opened at $1.96 on Tuesday. The stock has a market cap of $52.55 million, a price-to-earnings ratio of -0.46 and a beta of 1.59. 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 12-month low of $1.43 and a 12-month high of $8.17. The business’s 50 day moving average is $1.86 and its 200 day moving average is $4.17.

Syros Pharmaceuticals (NASDAQ:SYRSGet Free Report) last announced its earnings results on Wednesday, July 31st. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.09. On average, sell-side analysts forecast that Syros Pharmaceuticals will post -2.88 earnings per share for the current fiscal year.

Insider Activity at Syros Pharmaceuticals

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 200.00 % 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. In other Syros Pharmaceuticals news, CFO Jason Haas bought 45,344 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of $1.68 per share, for a total transaction of $76,177.92. Following the purchase, the chief financial officer now directly owns 124,552 shares of the company’s stock, valued at $209,247.36. The trade was a 0.00 % 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, CEO Conley Chee bought 50,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was acquired at an average price of $1.51 per share, for a total transaction of $75,500.00. Following the completion of the purchase, the chief executive officer now directly owns 72,504 shares in the company, valued at approximately $109,481.04. The trade was a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 130,707 shares of company stock worth $206,491. 12.26% of the stock is owned by company insiders.

Hedge Funds Weigh In On Syros Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Virtu Financial LLC purchased a new position in shares of Syros Pharmaceuticals in the 1st quarter worth about $64,000. Acadian Asset Management LLC purchased a new position in shares of Syros Pharmaceuticals in the 1st quarter worth about $91,000. Certuity LLC purchased a new position in shares of Syros Pharmaceuticals in the 2nd quarter worth about $109,000. Kennedy Capital Management LLC purchased a new position in shares of Syros Pharmaceuticals in the 1st quarter worth about $2,166,000. Finally, Opaleye Management Inc. boosted its holdings in shares of 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 purchasing an additional 428,175 shares in the last quarter. 91.47% of the stock is currently owned by hedge funds and other institutional investors.

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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