Syros Pharmaceuticals’ (SYRS) Hold Rating Reaffirmed at TD Cowen

TD Cowen reiterated their hold rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a research note issued to investors on Wednesday morning, MarketBeat.com reports.

Other equities research analysts have also recently issued reports about the company. Piper Sandler reaffirmed an “overweight” rating and set a $5.00 price objective (down from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th. JMP Securities decreased their price objective on Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and set a $6.00 price objective on shares of Syros Pharmaceuticals in a research note on Friday, November 1st. Finally, StockNews.com cut Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Syros Pharmaceuticals presently has a consensus rating of “Hold” and a consensus price target of $3.33.

Syros Pharmaceuticals Stock Down 5.7 %

NASDAQ SYRS opened at $0.26 on Wednesday. The stock has a fifty day moving average of $1.99 and a 200-day moving average of $3.75. The stock has a market capitalization of $6.96 million, a P/E ratio of -0.09 and a beta of 1.59. Syros Pharmaceuticals has a 52 week low of $0.25 and a 52 week high of $8.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 2.25 and a current ratio of 2.25.

Syros Pharmaceuticals (NASDAQ:SYRS) last released 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 period last year, the firm earned ($1.35) earnings per share. On average, equities research analysts forecast that Syros Pharmaceuticals will post -2.99 EPS for the current year.

Insiders Place Their Bets

In other Syros Pharmaceuticals news, CFO Jason Haas bought 45,344 shares of Syros Pharmaceuticals stock in a transaction on Thursday, September 12th. The shares were purchased at an average cost 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 in the company, valued at approximately $209,247.36. The trade was a 57.25 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Conley Chee bought 50,000 shares of Syros Pharmaceuticals 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 completion of the acquisition, the chief executive officer now owns 72,504 shares of the company’s stock, valued at approximately $109,481.04. This represents a 222.18 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 130,707 shares of company stock worth $206,491. Corporate insiders own 12.26% of the company’s stock.

Institutional Trading of Syros Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Syros Pharmaceuticals by 21.3% in the first 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 in the last quarter. Opaleye Management Inc. lifted its holdings in shares of Syros Pharmaceuticals by 119.1% in the first 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 in the last quarter. Kennedy Capital Management LLC bought a new stake in shares of Syros Pharmaceuticals in the first quarter valued at about $2,166,000. Acadian Asset Management LLC lifted its holdings in shares of Syros Pharmaceuticals by 101.5% in the second quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock valued at $178,000 after purchasing an additional 17,416 shares in the last quarter. Finally, Certuity LLC bought a new stake in shares of Syros Pharmaceuticals in the second quarter valued at about $109,000. 91.47% of the stock is currently owned by 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.