Syros Pharmaceuticals (NASDAQ:SYRS) Announces Earnings Results

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

Syros Pharmaceuticals Trading Down 9.9 %

Shares of SYRS traded down $0.25 during midday trading on Friday, reaching $2.27. The company had a trading volume of 304,987 shares, compared to its average volume of 241,841. Syros Pharmaceuticals has a 1-year low of $1.43 and a 1-year high of $8.17. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 1.97. The firm has a 50 day simple moving average of $1.91 and a 200-day simple moving average of $3.99. The stock has a market cap of $60.86 million, a PE ratio of -0.73 and a beta of 1.59.

Insider Activity

In other news, CFO Jason Haas acquired 35,363 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average cost of $1.55 per share, for a total transaction of $54,812.65. Following the completion of the transaction, the chief financial officer now owns 59,915 shares in the company, valued at approximately $92,868.25. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Conley Chee bought 50,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was bought 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 directly owns 72,504 shares of the company’s stock, valued at $109,481.04. The trade was a 200.00 % increase in their position. The purchase 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 stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $1.55 per share, with a total value 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. This trade represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 130,707 shares of company stock valued at $206,491. 12.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYRS has been the subject of a number of research analyst reports. JMP Securities reduced their target price on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a 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 report on Friday. StockNews.com raised shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, October 15th. Finally, Piper Sandler reissued an “overweight” rating and issued a $5.00 price target (down from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th.

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.