Zacks Investment Research Downgrades Syros Pharmaceuticals (SYRS) to Sell

Zacks Investment Research downgraded shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a hold rating to a sell rating in a report published on Tuesday.

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. “

SYRS has been the topic of a number of other research reports. Oppenheimer set a $26.00 price target on shares of Syros Pharmaceuticals and gave the company a buy rating in a research note on Thursday, November 1st. HC Wainwright reaffirmed a hold rating and set a $10.00 price target on shares of Syros Pharmaceuticals in a research note on Wednesday, August 8th. BidaskClub downgraded shares of Syros Pharmaceuticals from a sell rating to a strong sell rating in a research note on Wednesday, October 17th. Cann reissued a buy rating and issued a $26.00 target price on shares of Syros Pharmaceuticals in a research note on Tuesday, August 7th. Finally, JMP Securities set a $33.00 price target on shares of Syros Pharmaceuticals and gave the stock a buy rating in a research note on Thursday, November 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $19.00.

Syros Pharmaceuticals stock traded down $0.38 during mid-day trading on Tuesday, reaching $7.36. 107,280 shares of the company’s stock traded hands, compared to its average volume of 113,173. The company has a market cap of $259.48 million, a price-to-earnings ratio of -3.46 and a beta of 0.78. Syros Pharmaceuticals has a 12-month low of $6.25 and a 12-month high of $15.88.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its quarterly earnings results on Thursday, November 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.02). The company had revenue of $0.41 million for the quarter, compared to the consensus estimate of $0.72 million. As a group, sell-side analysts anticipate that Syros Pharmaceuticals will post -1.87 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in Syros Pharmaceuticals by 10.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 77,654 shares of the company’s stock worth $925,000 after acquiring an additional 7,062 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Syros Pharmaceuticals by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 369,959 shares of the company’s stock worth $4,406,000 after acquiring an additional 8,286 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Syros Pharmaceuticals by 299.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 12,922 shares of the company’s stock worth $168,000 after acquiring an additional 9,691 shares in the last quarter. Rhumbline Advisers grew its holdings in Syros Pharmaceuticals by 87.6% during the 2nd quarter. Rhumbline Advisers now owns 22,472 shares of the company’s stock worth $229,000 after acquiring an additional 10,494 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in Syros Pharmaceuticals during the 2nd quarter worth about $119,000. Institutional investors own 60.74% of the company’s stock.

About Syros Pharmaceuticals

Syros Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development of treatment for cancer and monogenic diseases, and building a pipeline of gene control medicines. Its lead product candidates include SY-1425, a selective retinoic acid receptor alpha agonist, which is in a Phase II clinical trial for genomically defined subsets of patients with acute myeloid leukemia (AML) and myelodysplastic syndrome; and SY-1365, a selective CDK7 inhibitor, which is in a Phase I clinical trial that is used for treating patients with solid tumors and blood cancers, including ovarian cancer, breast cancer, and AML.

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