Syros Pharmaceuticals' (SYRS) "Hold" Rating Reaffirmed at TD Cowen

TD Cowen reaffirmed their hold rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS - Free Report) in a research report released on Wednesday morning,Benzinga reports.

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

Syros Pharmaceuticals Stock Performance

Shares of NASDAQ:SYRS traded down $2.37 during trading on Wednesday, reaching $0.36. 37,915,937 shares of the stock were exchanged, compared to its average volume of 463,154. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 1.97. The firm has a market cap of $9.66 million, a PE ratio of -0.12 and a beta of 1.59. The stock has a 50-day moving average price of $2.07 and a 200-day moving average price of $3.84. Syros Pharmaceuticals has a 12 month low of $0.35 and a 12 month high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, beating analysts' consensus estimates of ($0.76) by $0.08. During the same period last year, the company posted ($1.35) earnings per share. Research analysts expect that Syros Pharmaceuticals will post -2.94 EPS for the current fiscal year.

Insider Activity

In other news, CFO Jason Haas bought 45,344 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was purchased at an average cost of $1.68 per share, with a total value of $76,177.92. Following the acquisition, the chief financial officer now directly owns 124,552 shares in the company, valued at $209,247.36. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Syros Pharmaceuticals news, CEO Conley Chee bought 50,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were acquired at an average cost of $1.51 per share, with a total value of $75,500.00. Following the acquisition, the chief executive officer now directly owns 72,504 shares of the company's stock, valued at $109,481.04. The trade was a 200.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Jason Haas bought 45,344 shares of the firm's stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $1.68 per share, with a total value of $76,177.92. Following the acquisition, the chief financial officer now directly owns 124,552 shares in the company, valued at approximately $209,247.36. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 130,707 shares of company stock valued at $206,491 in the last three months. 12.26% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Syros Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in SYRS. Vanguard Group Inc. increased its position in Syros Pharmaceuticals by 21.3% during 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. Acadian Asset Management LLC acquired a new stake in Syros Pharmaceuticals during the 1st quarter valued at approximately $91,000. Kennedy Capital Management LLC acquired a new stake in Syros Pharmaceuticals during the 1st quarter valued at approximately $2,166,000. Virtu Financial LLC acquired a new stake in Syros Pharmaceuticals during the 1st quarter valued at approximately $64,000. Finally, Opaleye Management Inc. grew its position in shares of Syros Pharmaceuticals by 119.1% during 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 period. 91.47% of the stock is currently owned by hedge funds and other institutional investors.

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.