HC Wainwright Reaffirms "Buy" Rating for Syros Pharmaceuticals (NASDAQ:SYRS)

Syros Pharmaceuticals (NASDAQ:SYRS - Get Free Report)'s stock had its "buy" rating reissued by equities research analysts at HC Wainwright in a report issued on Friday, Benzinga reports. They presently have a $6.00 price objective on the stock. HC Wainwright's price target indicates a potential upside of 164.90% from the company's previous close.

SYRS has been the subject of a number of other reports. StockNews.com raised shares of Syros Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Tuesday, October 15th. 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, August 13th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $5.00 price objective (down previously from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th.

Syros Pharmaceuticals Stock Performance

NASDAQ SYRS traded down $0.25 during trading on Friday, hitting $2.27. 523,534 shares of the company's stock traded hands, compared to its average volume of 242,872. 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 stock has a market capitalization of $60.72 million, a price-to-earnings ratio of -0.73 and a beta of 1.59. Syros Pharmaceuticals has a 12-month low of $1.43 and a 12-month high of $8.17. The business has a 50 day moving average of $1.91 and a 200-day moving average of $3.99.

Syros Pharmaceuticals (NASDAQ:SYRS - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, topping the consensus estimate of ($0.76) by $0.08. During the same period in the prior year, the company posted ($1.35) earnings per share. As a group, equities research analysts anticipate that Syros Pharmaceuticals will post -3.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Syros Pharmaceuticals

In other news, CFO Jason Haas bought 45,344 shares of the company's stock in a transaction dated Thursday, September 12th. The stock was bought 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. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other Syros Pharmaceuticals news, CFO Jason Haas bought 45,344 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The stock was bought 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 directly owns 124,552 shares in the company, valued at $209,247.36. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Conley Chee purchased 50,000 shares of the business's stock in a transaction that occurred on Tuesday, September 10th. The stock was bought at an average price of $1.51 per share, for a total transaction of $75,500.00. Following the acquisition, the chief executive officer now owns 72,504 shares of the company's stock, valued at $109,481.04. This represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 130,707 shares of company stock worth $206,491. 12.26% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Syros Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new position in shares of Syros Pharmaceuticals in the 1st quarter worth approximately $64,000. Acadian Asset Management LLC purchased a new position in Syros Pharmaceuticals during the first quarter valued at $91,000. Certuity LLC bought a new stake in shares of Syros Pharmaceuticals during the 2nd quarter valued at $109,000. 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 worth $4,965,000 after buying an additional 163,234 shares during the period. Finally, Kennedy Capital Management LLC bought a new position in shares of Syros Pharmaceuticals in the 1st quarter worth about $2,166,000. 91.47% of the stock is 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.