Zacks Investment Research Upgrades Syros Pharmaceuticals (SYRS) to Buy

Syros Pharmaceuticals (NASDAQ:SYRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday, January 5th. The brokerage presently has a $11.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 4.66% from the stock’s current price.

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. “

Several other research analysts have also recently weighed in on SYRS. Cowen reiterated a “buy” rating on shares of Syros Pharmaceuticals in a report on Monday, December 11th. Oppenheimer restated a “buy” rating and set a $28.00 target price on shares of Syros Pharmaceuticals in a report on Thursday, December 7th. ValuEngine cut shares of Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, September 22nd. Roth Capital started coverage on shares of Syros Pharmaceuticals in a report on Monday, October 23rd. They set a “neutral” rating and a $15.00 target price for the company. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $30.00 price target on shares of Syros Pharmaceuticals in a research report on Tuesday, October 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $22.23.

Syros Pharmaceuticals (NASDAQ SYRS) traded down $0.14 on Friday, hitting $10.51. 257,367 shares of the company were exchanged, compared to its average volume of 252,833. The company has a market capitalization of $276.38 and a P/E ratio of -6.04. Syros Pharmaceuticals has a twelve month low of $6.30 and a twelve month high of $24.38.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings results on Wednesday, November 8th. The company reported ($0.53) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.53). equities research analysts expect that Syros Pharmaceuticals will post -2.12 EPS for the current year.

In related news, insider Jeremy P. Springhorn purchased 15,000 shares of Syros Pharmaceuticals stock in a transaction dated Friday, December 15th. The shares were bought at an average cost of $9.08 per share, for a total transaction of $136,200.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Srinivas Akkaraju acquired 109,774 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The stock was acquired at an average price of $9.03 per share, with a total value of $991,259.22. The disclosure for this purchase can be found here. Corporate insiders own 33.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SYRS. FMR LLC raised its holdings in Syros Pharmaceuticals by 11.9% during the 2nd quarter. FMR LLC now owns 3,926,998 shares of the company’s stock worth $63,185,000 after purchasing an additional 418,061 shares during the last quarter. Redmile Group LLC raised its holdings in Syros Pharmaceuticals by 2.2% during the 2nd quarter. Redmile Group LLC now owns 973,260 shares of the company’s stock worth $15,660,000 after purchasing an additional 20,520 shares during the last quarter. Vanguard Group Inc. raised its holdings in Syros Pharmaceuticals by 189.6% during the 2nd quarter. Vanguard Group Inc. now owns 382,603 shares of the company’s stock worth $6,156,000 after purchasing an additional 250,507 shares during the last quarter. State Street Corp raised its holdings in Syros Pharmaceuticals by 176.7% during the 2nd quarter. State Street Corp now owns 169,497 shares of the company’s stock worth $2,728,000 after purchasing an additional 108,250 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Syros Pharmaceuticals by 15.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 126,530 shares of the company’s stock worth $1,926,000 after purchasing an additional 17,330 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.

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Syros Pharmaceuticals Company Profile

Syros Pharmaceuticals, Inc is a biopharmaceutical company. The Company offers a gene control platform designed to analyze the unexploited region of deoxyribonucleic acid (DNA) in human disease tissue to identify and drug targets linked to genomically defined patient populations. The Company is focused on developing treatments for cancer and immune-mediated diseases and is building a pipeline of gene control medicines.

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