Syros Pharmaceuticals (NASDAQ:SYRS) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a buy rating to a hold rating in a research note published on Friday morning, Zacks.com reports.

According to Zacks, “Syros Pharmaceuticals, Inc. is a biopharmaceutical company. It focuses on treatments for cancer and immune-mediated diseases as well as building a pipeline of gene control medicines. The company’s product pipeline includes SY-1425, a selective RARa agonist for genomically defined subsets of patients with relapsed or refractory acute myeloid leukemia and relapsed high-risk myelodysplastic syndrome and SY-1365, a selective CDK7 inhibitor for acute leukemia which is in preclinical stage. Syros Pharmaceuticals, Inc. is based in Cambridge, Massachusetts. “

SYRS has been the topic of a number of other research reports. Piper Jaffray Companies dropped their price target on Syros Pharmaceuticals from $24.00 to $18.00 in a research report on Thursday, October 17th. JMP Securities dropped their price target on Syros Pharmaceuticals from $18.00 to $16.00 and set a market outperform rating on the stock in a research report on Friday, October 18th. BidaskClub raised Syros Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, October 18th. Cowen reaffirmed a buy rating on shares of Syros Pharmaceuticals in a research report on Tuesday, November 12th. Finally, ValuEngine raised Syros Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Syros Pharmaceuticals has a consensus rating of Buy and an average target price of $13.46.

Shares of NASDAQ SYRS traded down $0.09 during midday trading on Friday, hitting $4.90. 276,300 shares of the stock traded hands, compared to its average volume of 368,970. Syros Pharmaceuticals has a one year low of $4.70 and a one year high of $11.93. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.92 and a current ratio of 4.92. The business has a 50 day moving average price of $6.75 and a two-hundred day moving average price of $7.91. The company has a market cap of $211.78 million, a PE ratio of -2.57 and a beta of 1.49.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.47) EPS for the quarter, beating analysts’ consensus estimates of ($0.48) by $0.01. Syros Pharmaceuticals had a negative return on equity of 84.49% and a negative net margin of 3,115.38%. The firm had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $0.43 million. As a group, equities research analysts forecast that Syros Pharmaceuticals will post -1.89 EPS for the current fiscal year.

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In related news, insider Jeremy P. Springhorn acquired 9,879 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were acquired at an average price of $4.99 per share, with a total value of $49,296.21. Following the acquisition, the insider now owns 24,879 shares of the company’s stock, valued at approximately $124,146.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 14.80% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC lifted its holdings in Syros Pharmaceuticals by 863.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 2,688 shares of the company’s stock worth $28,000 after purchasing an additional 2,409 shares in the last quarter. Bank of Montreal Can lifted its holdings in Syros Pharmaceuticals by 11,319.2% during the 2nd quarter. Bank of Montreal Can now owns 2,969 shares of the company’s stock worth $27,000 after purchasing an additional 2,943 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in Syros Pharmaceuticals during the 2nd quarter worth about $119,000. Susquehanna International Group LLP purchased a new stake in Syros Pharmaceuticals during the 2nd quarter worth about $133,000. Finally, Algert Global LLC purchased a new stake in Syros Pharmaceuticals during the 2nd quarter worth about $166,000.

Syros Pharmaceuticals Company Profile

Syros Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development of treatment for cancer and monogenic diseases, and building a pipeline of gene control medicines. Its lead product candidates include SY-1425, a selective retinoic acid receptor alpha agonist, which is in a Phase II clinical trial for genomically defined subsets of patients with acute myeloid leukemia (AML) and myelodysplastic syndrome; SY-1365, a selective cyclin-dependent kinase 7 (CDK7) inhibitor, which is in a Phase I clinical trial that is used for treating patients with solid tumors and blood cancers, including ovarian and breast cancer; and SY-5609, a CDK7 inhibitor, which is in preclinical studies to treat oncology patients.

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