Syros Pharmaceuticals (NASDAQ:SYRS) Shares Down 8.6%


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Shares of Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) dropped 8.6% during trading on Thursday . The company traded as low as $10.40 and last traded at $10.85. Approximately 558,508 shares changed hands during trading, an increase of 39% from the average daily volume of 400,625 shares. The stock had previously closed at $11.87.

A number of analysts have recently weighed in on SYRS shares. Alliance Global Partners initiated coverage on shares of Syros Pharmaceuticals in a research note on Tuesday, September 22nd. They issued a “buy” rating and a $18.00 price target for the company. Roth Capital upped their target price on Syros Pharmaceuticals from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. ValuEngine cut Syros Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 23rd. Brookline Capital Management assumed coverage on Syros Pharmaceuticals in a research note on Tuesday, November 10th. They set a “buy” rating and a $19.00 target price for the company. Finally, BidaskClub raised Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, December 8th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Syros Pharmaceuticals has a consensus rating of “Buy” and an average target price of $15.78.

The company has a market cap of $497.05 million, a price-to-earnings ratio of -6.38 and a beta of 1.85. The company has a current ratio of 4.85, a quick ratio of 4.85 and a debt-to-equity ratio of 0.32. The business has a fifty day moving average price of $9.84 and a two-hundred day moving average price of $10.19.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings results on Thursday, November 5th. The company reported ($0.43) EPS for the quarter, missing the consensus estimate of ($0.38) by ($0.05). Syros Pharmaceuticals had a negative return on equity of 94.59% and a negative net margin of 1,114.79%. The company had revenue of $3.83 million for the quarter, compared to analyst estimates of $2.83 million. On average, analysts anticipate that Syros Pharmaceuticals, Inc. will post -1.52 EPS for the current year.

In related news, Director Richard A. Young sold 5,673 shares of the stock in a transaction on Monday, October 19th. The stock was sold at an average price of $8.75, for a total transaction of $49,638.75. Following the completion of the sale, the director now directly owns 335,201 shares in the company, valued at $2,933,008.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 14.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in SYRS. Russell Investments Group Ltd. raised its position in Syros Pharmaceuticals by 325.4% during the second quarter. Russell Investments Group Ltd. now owns 8,959 shares of the company’s stock valued at $95,000 after acquiring an additional 6,853 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Syros Pharmaceuticals by 29.1% during the 2nd quarter. New York State Common Retirement Fund now owns 40,400 shares of the company’s stock valued at $431,000 after purchasing an additional 9,100 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Syros Pharmaceuticals in the 2nd quarter valued at $228,000. California Public Employees Retirement System lifted its stake in shares of Syros Pharmaceuticals by 170.6% in the 2nd quarter. California Public Employees Retirement System now owns 94,694 shares of the company’s stock valued at $1,009,000 after purchasing an additional 59,697 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Syros Pharmaceuticals by 27.6% in the second quarter. Bank of New York Mellon Corp now owns 149,048 shares of the company’s stock worth $1,589,000 after purchasing an additional 32,284 shares in the last quarter. Institutional investors and hedge funds own 97.66% of the company’s stock.

Syros Pharmaceuticals Company Profile (NASDAQ:SYRS)

Syros Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development of treatments for cancer and monogenic diseases, and building a pipeline of gene control medicines. The company's lead product candidates are SY-1425, a selective retinoic acid receptor alpha agonist, which is in a Phase II clinical trial for genomically defined subset of patients with acute myeloid leukemia and myelodysplastic syndrome; and SY-5609, a cyclin-dependent kinase 7 inhibitor, which is in a Phase I clinical trial in patients with select advanced solid tumors.

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