Syros Pharmaceuticals (NASDAQ:SYRS) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a hold rating to a sell rating in a report published on Wednesday.

Several other research analysts have also recently weighed in on SYRS. HC Wainwright restated a buy rating and set a $15.00 target price on shares of Syros Pharmaceuticals in a report on Monday, April 1st. Piper Sandler restated an overweight rating and set a $13.00 target price on shares of Syros Pharmaceuticals in a report on Wednesday, April 3rd.

Syros Pharmaceuticals Stock Down 3.8 %

SYRS opened at $4.54 on Wednesday. The company’s 50 day simple moving average is $6.24 and its two-hundred day simple moving average is $5.21. Syros Pharmaceuticals has a 1-year low of $2.09 and a 1-year high of $8.17. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.95 and a quick ratio of 3.95.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its earnings results on Wednesday, March 27th. The company reported ($1.19) earnings per share for the quarter, topping the consensus estimate of ($1.23) by $0.04. The business had revenue of $0.39 million for the quarter, compared to analysts’ expectations of $2.40 million. Syros Pharmaceuticals had a negative return on equity of 227.91% and a negative net margin of 1,656.34%. Research analysts anticipate that Syros Pharmaceuticals will post -3.78 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SYRS. Private Advisor Group LLC acquired a new position in Syros Pharmaceuticals in the first quarter valued at approximately $29,000. Acadian Asset Management LLC acquired a new position in Syros Pharmaceuticals in the first quarter valued at approximately $97,000. Federated Hermes Inc. lifted its holdings in Syros Pharmaceuticals by 45.7% in the first quarter. Federated Hermes Inc. now owns 240,239 shares of the company’s stock valued at $286,000 after acquiring an additional 75,315 shares during the last quarter. XTX Topco Ltd lifted its holdings in Syros Pharmaceuticals by 286.6% in the first quarter. XTX Topco Ltd now owns 44,555 shares of the company’s stock valued at $53,000 after acquiring an additional 33,031 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Syros Pharmaceuticals in the first quarter valued at approximately $975,000. 91.47% of the stock is currently owned by institutional investors and hedge funds.

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.