JMP Securities Reiterates Market Perform Rating for Syros Pharmaceuticals (NASDAQ:SYRS)

JMP Securities reiterated their market perform rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a report published on Wednesday, Marketbeat.com reports.

A number of other research analysts have also issued reports on the company. Piper Sandler restated an “overweight” rating and set a $5.00 price objective (down previously from $13.00) on shares of Syros Pharmaceuticals in a research report on Tuesday, August 13th. TD Cowen reissued a “hold” rating on shares of Syros Pharmaceuticals in a report on Wednesday. HC Wainwright restated a “neutral” rating and set a $1.00 price target (down previously from $6.00) on shares of Syros Pharmaceuticals in a research report on Wednesday. Finally, StockNews.com downgraded shares of Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $3.33.

Syros Pharmaceuticals Price Performance

Shares of SYRS stock opened at $0.26 on Wednesday. The firm has a fifty day moving average of $2.02 and a two-hundred day moving average of $3.79. The firm has a market cap of $6.96 million, a P/E ratio of -0.09 and a beta of 1.59. Syros Pharmaceuticals has a 1-year low of $0.25 and a 1-year high of $8.17. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.25 and a quick ratio of 2.25.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings results on Thursday, October 31st. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.08. During the same period last year, the company earned ($1.35) earnings per share. As a group, research analysts anticipate that Syros Pharmaceuticals will post -2.99 earnings per share for the current fiscal year.

Insider Transactions at Syros Pharmaceuticals

In other Syros Pharmaceuticals news, CEO Conley Chee purchased 50,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was bought at an average cost of $1.51 per share, with a total value of $75,500.00. Following the acquisition, the chief executive officer now owns 72,504 shares of the company’s stock, valued at $109,481.04. The trade was a 222.18 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Jason Haas acquired 45,344 shares of the stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of $1.68 per share, for a total transaction of $76,177.92. Following the purchase, the chief financial officer now directly owns 124,552 shares in the company, valued at approximately $209,247.36. The trade was a 57.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 130,707 shares of company stock valued at $206,491. 12.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Syros Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in SYRS. Vanguard Group Inc. increased its holdings in shares of Syros Pharmaceuticals by 21.3% in the first quarter. Vanguard Group Inc. now owns 928,046 shares of the company’s stock valued at $4,965,000 after buying an additional 163,234 shares in the last quarter. Opaleye Management Inc. boosted its stake in shares of Syros Pharmaceuticals by 119.1% during the 1st quarter. Opaleye Management Inc. now owns 787,545 shares of the company’s stock worth $4,213,000 after acquiring an additional 428,175 shares in the last quarter. Kennedy Capital Management LLC acquired a new position in shares of Syros Pharmaceuticals in the 1st quarter worth $2,166,000. Acadian Asset Management LLC raised its position in shares of Syros Pharmaceuticals by 101.5% during the second quarter. Acadian Asset Management LLC now owns 34,578 shares of the company’s stock worth $178,000 after purchasing an additional 17,416 shares during the period. Finally, Certuity LLC purchased a new stake in shares of Syros Pharmaceuticals during the second quarter valued at $109,000. 91.47% of the stock is currently owned by institutional investors.

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.