Brokerages Set Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) Target Price at $5.00

Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) has been assigned a consensus rating of “Hold” from the five ratings firms that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $3.33.

Several equities research analysts have recently commented on the stock. JMP Securities restated a “market perform” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. Brookline Capital Management restated a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday, November 13th. StockNews.com cut Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Piper Sandler reaffirmed an “overweight” rating and issued a $5.00 price target (down from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $1.00 price target (down from $6.00) on shares of Syros Pharmaceuticals in a report on Wednesday, November 13th.

Insiders Place Their Bets

In other Syros Pharmaceuticals news, CEO Conley Chee acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average cost 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 of the company’s stock, valued at $109,481.04. This trade represents a 222.18 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Haas acquired 35,363 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $1.55 per share, with a total value 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 $92,868.25. This trade represents a 144.03 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 130,707 shares of company stock valued at $206,491. 12.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Syros Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of SYRS. Vanguard Group Inc. grew its position in shares of Syros Pharmaceuticals by 21.3% in the 1st 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 period. Acadian Asset Management LLC acquired a new position in shares of Syros Pharmaceuticals in the 1st quarter valued at approximately $91,000. Kennedy Capital Management LLC acquired a new position in shares of Syros Pharmaceuticals in the 1st quarter valued at approximately $2,166,000. Virtu Financial LLC acquired a new position in shares of Syros Pharmaceuticals in the 1st quarter valued at approximately $64,000. Finally, Opaleye Management Inc. grew its position in shares of Syros Pharmaceuticals by 119.1% in the 1st quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock valued at $4,213,000 after purchasing an additional 428,175 shares during the period. 91.47% of the stock is currently owned by institutional investors and hedge funds.

Syros Pharmaceuticals Stock Up 39.2 %

SYRS opened at $0.28 on Wednesday. Syros Pharmaceuticals has a fifty-two week low of $0.18 and a fifty-two week high of $8.17. 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 firm’s fifty day moving average price is $1.97 and its two-hundred day moving average price is $3.70. The company has a market capitalization of $7.43 million, a P/E ratio of -0.07 and a beta of 1.59.

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

Syros Pharmaceuticals Company Profile

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.