Syros Pharmaceuticals (NASDAQ:SYRS) PT Lowered to $6.00

Syros Pharmaceuticals (NASDAQ:SYRS) had its price objective cut by stock analysts at HC Wainwright from $15.00 to $6.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. HC Wainwright’s target price would suggest a potential upside of 271.52% from the company’s previous close.

A number of other equities analysts have also recently weighed in on SYRS. JMP Securities reduced their price target on shares of Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating on the stock in a research report on Tuesday. StockNews.com raised shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th.

Syros Pharmaceuticals Price Performance

Shares of SYRS stock opened at $1.62 on Tuesday. Syros Pharmaceuticals has a 52-week low of $1.56 and a 52-week high of $8.17. The stock has a market cap of $43.30 million, a PE ratio of -0.32 and a beta of 1.53. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.46 and a current ratio of 3.46. The firm’s 50 day moving average price is $5.45 and its two-hundred day moving average price is $5.80.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its quarterly earnings data on Tuesday, May 14th. The company reported ($0.79) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.10. Syros Pharmaceuticals had a negative net margin of 1,656.34% and a negative return on equity of 850.20%. During the same period in the previous year, the firm earned ($0.85) EPS. As a group, analysts forecast that Syros Pharmaceuticals will post -3.08 EPS for the current year.

Insider Transactions at Syros Pharmaceuticals

In related news, Director Richard A. Young sold 34,837 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $5.12, for a total transaction of $178,365.44. Following the sale, the director now directly owns 8,000 shares in the company, valued at $40,960. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 12.26% of the company’s stock.

Institutional Investors Weigh In On Syros Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bain Capital Life Sciences Investors LLC raised its holdings in shares of Syros Pharmaceuticals by 29.4% during the fourth quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock worth $21,421,000 after acquiring an additional 625,114 shares during the period. Avidity Partners Management LP raised its holdings in shares of Syros Pharmaceuticals by 5.8% during the fourth quarter. Avidity Partners Management LP now owns 1,673,538 shares of the company’s stock worth $13,037,000 after acquiring an additional 92,396 shares during the period. 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 worth $10,079,000 after acquiring an additional 300,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of Syros Pharmaceuticals by 21.3% during 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. Finally, Opaleye Management Inc. raised its holdings in shares of Syros Pharmaceuticals by 119.1% during 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. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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.