JMP Securities Reiterates Market Perform Rating for Syros Pharmaceuticals (NASDAQ:SYRS)

JMP Securities reissued their market perform rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a report issued on Wednesday morning,Benzinga reports.

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

Syros Pharmaceuticals Trading Down 86.8 %

NASDAQ SYRS opened at $0.36 on Wednesday. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.25 and a quick ratio of 2.25. The stock has a market capitalization of $9.63 million, a P/E ratio of -0.12 and a beta of 1.59. The firm’s 50-day moving average is $2.07 and its two-hundred day moving average is $3.84. Syros Pharmaceuticals has a 12 month low of $0.35 and a 12 month high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.76) by $0.08. During the same quarter in the previous year, the company earned ($1.35) earnings per share. On average, sell-side analysts anticipate that Syros Pharmaceuticals will post -2.94 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SYRS. Kennedy Capital Management LLC acquired a new stake in shares of Syros Pharmaceuticals during the 1st quarter worth about $2,166,000. Vanguard Group Inc. increased its stake in Syros Pharmaceuticals by 21.3% in the first quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock valued at $4,965,000 after purchasing an additional 163,234 shares during the last quarter. Virtu Financial LLC purchased a new position in Syros Pharmaceuticals in the first quarter valued at approximately $64,000. Acadian Asset Management LLC acquired a new stake in Syros Pharmaceuticals during the first quarter worth approximately $91,000. Finally, Certuity LLC purchased a new stake in shares of Syros Pharmaceuticals during the 2nd quarter worth approximately $109,000. 91.47% of the stock is owned by institutional investors and hedge funds.

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.