HC Wainwright Reiterates “Buy” Rating for Syros Pharmaceuticals (NASDAQ:SYRS)

Syros Pharmaceuticals (NASDAQ:SYRS)‘s stock had its “buy” rating restated by equities research analysts at HC Wainwright in a research report issued on Wednesday, Benzinga reports. They currently have a $15.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 161.78% from the company’s previous close.

Other equities research analysts have also issued reports about the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $13.00 price target on shares of Syros Pharmaceuticals in a report on Wednesday, April 3rd. StockNews.com raised Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th.

Syros Pharmaceuticals Stock Up 0.5 %

Syros Pharmaceuticals stock opened at $5.73 on Wednesday. The business’s 50-day simple moving average is $5.29 and its two-hundred day simple moving average is $6.06. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.01 and a current ratio of 3.01. The company has a market cap of $153.16 million, a PE ratio of -1.14 and a beta of 1.70. Syros Pharmaceuticals has a fifty-two week low of $2.09 and a fifty-two week high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its earnings results on Tuesday, May 14th. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.10. Syros Pharmaceuticals had a negative return on equity of 395.36% and a negative net margin of 1,656.34%. During the same period last year, the company earned ($0.85) EPS. Equities analysts anticipate that Syros Pharmaceuticals will post -3.19 EPS for the current year.

Hedge Funds Weigh In On Syros Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the business. Bain Capital Life Sciences Investors LLC grew its stake in Syros Pharmaceuticals by 29.4% in the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock valued at $21,421,000 after acquiring an additional 625,114 shares during the period. Opaleye Management Inc. boosted its holdings in Syros Pharmaceuticals by 119.1% in 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 last quarter. Kennedy Capital Management LLC acquired a new position in shares of Syros Pharmaceuticals during the first quarter valued at approximately $2,166,000. Flagship Pioneering Inc. raised its holdings in shares of Syros Pharmaceuticals by 30.2% during the fourth quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock valued at $10,079,000 after acquiring an additional 300,000 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position 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 acquiring an additional 163,234 shares in the last quarter. Hedge funds and other institutional investors own 91.47% of the company’s stock.

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.