Syros Pharmaceuticals (NASDAQ:SYRS) Receives Neutral Rating from HC Wainwright

HC Wainwright restated their neutral rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. HC Wainwright currently has a $1.00 price objective on the stock, down from their previous price objective of $6.00. HC Wainwright also issued estimates for Syros Pharmaceuticals’ Q1 2025 earnings at ($0.70) EPS, Q2 2025 earnings at ($0.72) EPS, Q3 2025 earnings at ($0.68) EPS and Q4 2025 earnings at ($0.69) EPS.

Several other equities research analysts also recently weighed in on the stock. TD Cowen reaffirmed a “hold” rating on shares of Syros Pharmaceuticals in a research note on Wednesday. StockNews.com cut shares of Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, November 4th. JMP Securities reduced their price objective on shares of Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a report on Tuesday, August 13th. Finally, Piper Sandler reiterated an “overweight” rating and set a $5.00 price objective (down from $13.00) on shares of Syros Pharmaceuticals in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $3.33.

Syros Pharmaceuticals Price Performance

Shares of NASDAQ SYRS opened at $0.26 on Wednesday. Syros Pharmaceuticals has a twelve month low of $0.25 and a twelve month high of $8.17. The firm has a fifty day simple moving average of $1.99 and a 200 day simple moving average of $3.75. The company has a market capitalization of $6.96 million, a PE ratio of -0.09 and a beta of 1.59. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.97.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.08. During the same quarter in the prior year, the company earned ($1.35) earnings per share. On average, sell-side analysts forecast that Syros Pharmaceuticals will post -2.99 EPS for the current year.

Insider Activity

In other news, CEO Conley Chee purchased 50,000 shares of the business’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer now owns 72,504 shares in the company, valued at $109,481.04. This trade represents a 222.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Haas purchased 45,344 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average price of $1.68 per share, for a total transaction of $76,177.92. Following the completion of the acquisition, the chief financial officer now owns 124,552 shares of the company’s stock, valued at $209,247.36. The trade was a 57.25 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 130,707 shares of company stock worth $206,491 over the last three months. 12.26% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Syros Pharmaceuticals by 21.3% in the first quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock worth $4,965,000 after acquiring an additional 163,234 shares during the period. Opaleye Management Inc. raised its position in Syros Pharmaceuticals by 119.1% in the first quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock worth $4,213,000 after acquiring an additional 428,175 shares during the period. Kennedy Capital Management LLC bought a new stake in Syros Pharmaceuticals in the first quarter worth about $2,166,000. Acadian Asset Management LLC raised its position in Syros Pharmaceuticals by 101.5% in the second quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock worth $178,000 after acquiring an additional 17,416 shares during the period. Finally, Certuity LLC bought a new stake in Syros Pharmaceuticals in the second quarter worth about $109,000. 91.47% of the stock is currently owned by hedge funds and other institutional investors.

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.