Syros Pharmaceuticals (NASDAQ:SYRS) PT Lowered to $6.00

Syros Pharmaceuticals (NASDAQ:SYRS) had its price objective cut by HC Wainwright from $15.00 to $6.00 in a report issued on Tuesday, Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Syros Pharmaceuticals’ Q3 2024 earnings at ($0.50) EPS, Q4 2024 earnings at ($0.53) EPS, FY2024 earnings at ($2.52) EPS, FY2025 earnings at ($2.49) EPS, FY2026 earnings at ($1.90) EPS, FY2027 earnings at ($1.19) EPS and FY2028 earnings at $0.74 EPS.

SYRS has been the topic of several other research reports. StockNews.com upgraded shares of Syros Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, May 15th. JMP Securities cut their price target on shares of Syros Pharmaceuticals from $12.00 to $4.00 and set a market outperform rating on the stock in a report on Tuesday.

Syros Pharmaceuticals Price Performance

Shares of NASDAQ:SYRS opened at $1.52 on Tuesday. Syros Pharmaceuticals has a 12-month low of $1.48 and a 12-month high of $8.17. The company has a quick ratio of 3.46, a current ratio of 3.46 and a debt-to-equity ratio of 1.97. The stock’s 50-day moving average price is $5.31 and its 200-day moving average price is $5.73.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings results on Tuesday, May 14th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.89) by $0.10. Syros Pharmaceuticals had a negative return on equity of 850.20% and a negative net margin of 1,656.34%. During the same quarter last year, the business posted ($0.85) EPS. Sell-side analysts expect that Syros Pharmaceuticals will post -2.88 EPS for the current year.

Insider Transactions at Syros Pharmaceuticals

In related news, Director Richard A. Young sold 34,837 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $5.12, for a total transaction of $178,365.44. Following the completion of the transaction, the director now owns 8,000 shares in the company, valued at $40,960. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 12.26% of the company’s stock.

Hedge Funds Weigh In On Syros Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Virtu Financial LLC purchased a new stake in Syros Pharmaceuticals in the first quarter worth about $64,000. Acadian Asset Management LLC bought a new position in shares of Syros Pharmaceuticals in the 1st quarter worth approximately $91,000. Certuity LLC purchased a new position in shares of Syros Pharmaceuticals in the 2nd quarter valued at approximately $109,000. Assenagon Asset Management S.A. lifted its stake in shares of Syros Pharmaceuticals by 576.5% in the 1st quarter. Assenagon Asset Management S.A. now owns 169,999 shares of the company’s stock valued at $909,000 after purchasing an additional 144,869 shares during the period. Finally, Kennedy Capital Management LLC bought a new stake in shares of Syros Pharmaceuticals during the first quarter valued at approximately $2,166,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.

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.