JMP Securities Reiterates Market Perform Rating for Syros Pharmaceuticals (NASDAQ:SYRS)

JMP Securities restated their market perform rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS - Free Report) in a research note published on Wednesday morning,Benzinga reports.

SYRS has been the subject of a number of other research reports. Piper Sandler reiterated an "overweight" rating and issued a $5.00 target price (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. StockNews.com lowered Syros Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Monday, November 4th. TD Cowen restated a "hold" rating on shares of Syros Pharmaceuticals in a research note on Wednesday. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $1.00 price target (down from $6.00) on shares of Syros Pharmaceuticals in a research note on Wednesday. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $3.33.

Syros Pharmaceuticals Stock Down 86.8 %

Shares of SYRS traded down $2.37 during mid-day trading on Wednesday, reaching $0.36. The company's stock had a trading volume of 37,518,992 shares, compared to its average volume of 457,067. Syros Pharmaceuticals has a 1 year low of $0.35 and a 1 year high of $8.17. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.97. The company has a market cap of $9.66 million, a price-to-earnings ratio of -0.12 and a beta of 1.59. The business has a fifty day moving average of $2.04 and a 200 day moving average of $3.85.

Syros Pharmaceuticals (NASDAQ:SYRS - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, topping analysts' consensus estimates of ($0.76) by $0.08. During the same period last year, the business earned ($1.35) EPS. As a group, analysts forecast that Syros Pharmaceuticals will post -2.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Jason Haas acquired 35,363 shares of Syros Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The stock was acquired at an average cost of $1.55 per share, for a total transaction of $54,812.65. Following the completion of the purchase, the chief financial officer now owns 59,915 shares of the company's stock, valued at $92,868.25. This represents a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In other Syros Pharmaceuticals news, CFO Jason Haas acquired 35,363 shares of Syros Pharmaceuticals stock in a transaction dated Tuesday, September 10th. The stock was bought at an average cost of $1.55 per share, with a total value of $54,812.65. Following the completion of the transaction, the chief financial officer now owns 59,915 shares of the company's stock, valued at $92,868.25. The trade was a 100.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Conley Chee bought 50,000 shares of the company's stock in a transaction that occurred on Tuesday, September 10th. The shares were bought at an average cost of $1.51 per share, for a total transaction of $75,500.00. Following the transaction, the chief executive officer now directly owns 72,504 shares of the company's stock, valued at $109,481.04. This trade represents a 200.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased 130,707 shares of company stock valued at $206,491 over the last 90 days. 12.26% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Syros Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in Syros Pharmaceuticals in the first quarter valued at about $64,000. GSA Capital Partners LLP bought a new stake in Syros Pharmaceuticals during the 3rd quarter worth approximately $34,000. Acadian Asset Management LLC acquired a new stake in Syros Pharmaceuticals during the 1st quarter valued at $91,000. Certuity LLC bought a new stake in shares of Syros Pharmaceuticals during the second quarter worth $109,000. Finally, Kennedy Capital Management LLC bought a new position in shares of Syros Pharmaceuticals in the first quarter valued at about $2,166,000. Institutional investors and hedge funds own 91.47% of the company's stock.

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.