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

Syros Pharmaceuticals (NASDAQ:SYRS) released its quarterly earnings data on Thursday. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.08, Zacks reports. During the same period last year, the firm earned ($1.35) EPS.

Syros Pharmaceuticals Stock Performance

Shares of SYRS stock traded down $0.25 during mid-day trading on Friday, hitting $2.27. The stock had a trading volume of 523,174 shares, compared to its average volume of 242,870. The firm has a market cap of $60.86 million, a PE ratio of -0.73 and a beta of 1.59. The company’s 50-day simple moving average is $1.91 and its 200-day simple moving average is $3.99. The company has a debt-to-equity ratio of 1.97, a current ratio of 3.46 and a quick ratio of 3.46. Syros Pharmaceuticals has a fifty-two week low of $1.43 and a fifty-two week high of $8.17.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SYRS. JMP Securities reduced 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 research report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and issued a $6.00 price objective on shares of Syros Pharmaceuticals in a research note on Friday. Piper Sandler reissued an “overweight” rating and issued a $5.00 target price (down from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. Finally, StockNews.com raised Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th.

Insider Buying and Selling

In other Syros Pharmaceuticals news, CFO Jason Haas acquired 45,344 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was purchased at an average price of $1.68 per share, for a total transaction of $76,177.92. Following the completion of the transaction, the chief financial officer now owns 124,552 shares of the company’s stock, valued at $209,247.36. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Conley Chee bought 50,000 shares of the firm’s stock in a transaction on Tuesday, September 10th. The shares were bought at an average cost of $1.51 per share, for a total transaction of $75,500.00. Following the completion of the transaction, the chief executive officer now owns 72,504 shares in the company, valued at $109,481.04. This trade represents a 200.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jason Haas acquired 45,344 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now directly owns 124,552 shares in the company, valued at approximately $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. Insiders bought 130,707 shares of company stock valued at $206,491 over the last ninety days. Corporate insiders own 12.26% of the company’s stock.

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.