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 report issued on Wednesday.

Separately, Piper Sandler lowered their price objective on shares of Syros Pharmaceuticals from $11.00 to $7.00 and set an overweight rating for the company in a research report on Tuesday, October 3rd.

Read Our Latest Analysis on Syros Pharmaceuticals

Syros Pharmaceuticals Trading Up 7.4 %

NASDAQ SYRS opened at $7.65 on Wednesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 4.31 and a current ratio of 4.31. Syros Pharmaceuticals has a one year low of $2.09 and a one year high of $8.17. The company’s 50 day moving average price is $5.92 and its 200 day moving average price is $4.24. The firm has a market capitalization of $161.16 million, a price-to-earnings ratio of -2.04 and a beta of 1.82.

Syros Pharmaceuticals (NASDAQ:SYRSGet Free Report) last issued its quarterly earnings data on Tuesday, November 14th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.12) by ($0.23). The business had revenue of $3.76 million for the quarter, compared to the consensus estimate of $3.90 million. On average, sell-side analysts predict that Syros Pharmaceuticals will post -4.73 EPS for the current year.

Insider Transactions at Syros Pharmaceuticals

In related news, Director Srinivas Akkaraju purchased 904,977 shares of the firm’s stock in a transaction dated Thursday, December 21st. The stock was acquired at an average price of $4.42 per share, with a total value of $3,999,998.34. Following the completion of the transaction, the director now owns 1,786,427 shares of the company’s stock, valued at $7,896,007.34. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 10.45% of the company’s stock.

Hedge Funds Weigh In On Syros Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Private Advisor Group LLC acquired a new position in Syros Pharmaceuticals in the first quarter worth $29,000. Sawtooth Solutions LLC acquired a new position in Syros Pharmaceuticals in the first quarter worth $29,000. Prudential Financial Inc. acquired a new position in Syros Pharmaceuticals in the second quarter worth $32,000. BNP Paribas Arbitrage SA boosted its holdings in Syros Pharmaceuticals by 540.4% in the second quarter. BNP Paribas Arbitrage SA now owns 34,608 shares of the company’s stock worth $33,000 after purchasing an additional 29,204 shares during the period. Finally, Walleye Trading LLC acquired a new position in Syros Pharmaceuticals in the first quarter worth $36,000. Institutional investors and hedge funds own 51.29% of the company’s stock.

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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