Syros Pharmaceuticals (NASDAQ:SYRS) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a research note issued to investors on Friday, Benzinga reports. They currently have a $6.00 price objective on the stock.

A number of other brokerages have also weighed in on SYRS. StockNews.com upgraded Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. Piper Sandler reiterated an “overweight” rating and issued a $5.00 target price (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. Finally, JMP Securities dropped their target price 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.

Syros Pharmaceuticals Stock Up 7.3 %

Shares of Syros Pharmaceuticals stock opened at $2.43 on Friday. Syros Pharmaceuticals has a one year low of $1.43 and a one year high of $8.17. 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 company has a 50-day simple moving average of $1.94 and a two-hundred day simple moving average of $3.94.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.08. During the same period in the previous year, the business posted ($1.35) EPS. On average, equities research analysts forecast that Syros Pharmaceuticals will post -3.06 earnings per share for the current fiscal year.

Insider Activity at Syros Pharmaceuticals

In other news, CFO Jason Haas bought 35,363 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The shares were purchased at an average price of $1.55 per share, for a total transaction of $54,812.65. Following the completion of the transaction, the chief financial officer now directly owns 59,915 shares in the company, valued at approximately $92,868.25. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Conley Chee acquired 50,000 shares of the stock in a transaction on Tuesday, September 10th. The shares were acquired at an average price of $1.51 per share, for a total transaction of $75,500.00. Following the transaction, the chief executive officer now owns 72,504 shares in the company, valued at approximately $109,481.04. This trade represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jason Haas acquired 35,363 shares of the stock in a transaction on Tuesday, September 10th. The stock was bought at an average price of $1.55 per share, for a total transaction of $54,812.65. Following the transaction, the chief financial officer now owns 59,915 shares in the company, valued at approximately $92,868.25. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 130,707 shares of company stock worth $206,491 over the last quarter. Insiders own 12.26% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SYRS. Virtu Financial LLC acquired a new position in shares of Syros Pharmaceuticals during the 1st quarter worth approximately $64,000. Acadian Asset Management LLC acquired a new position in shares of Syros Pharmaceuticals during the 1st quarter worth approximately $91,000. Certuity LLC acquired a new position in shares of Syros Pharmaceuticals during the 2nd quarter worth approximately $109,000. Kennedy Capital Management LLC acquired a new position in shares of Syros Pharmaceuticals during the 1st quarter worth approximately $2,166,000. Finally, Opaleye Management Inc. raised its stake in shares of Syros Pharmaceuticals by 119.1% during the 1st quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock worth $4,213,000 after buying an additional 428,175 shares during the period. 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.