Syros Pharmaceuticals (NASDAQ:SYRS) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a sell rating to a hold rating in a research note published on Friday, Zacks.com reports.

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. “

Other equities research analysts have also recently issued research reports about the stock. Wedbush reissued an outperform rating and set a $13.00 price target on shares of Syros Pharmaceuticals in a research report on Thursday, April 25th. ValuEngine raised shares of Syros Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, June 26th. HC Wainwright reissued a neutral rating on shares of Syros Pharmaceuticals in a research report on Thursday, May 2nd. Roth Capital started coverage on shares of Syros Pharmaceuticals in a research report on Friday, July 12th. They set a buy rating and a $17.00 price target for the company. Finally, BidaskClub raised shares of Syros Pharmaceuticals from a hold rating to a buy rating in a research report on Friday, July 12th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Syros Pharmaceuticals currently has a consensus rating of Buy and an average target price of $16.03.

Shares of Syros Pharmaceuticals stock traded down $0.26 during trading on Friday, reaching $8.77. The company’s stock had a trading volume of 49,353 shares, compared to its average volume of 168,105. Syros Pharmaceuticals has a 52-week low of $5.17 and a 52-week high of $13.16. The company has a market cap of $372.20 million, a P/E ratio of -4.59 and a beta of 1.94. The firm has a 50-day simple moving average of $7.93. The company has a current ratio of 8.11, a quick ratio of 8.11 and a debt-to-equity ratio of 0.15.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.06). The business had revenue of $0.46 million during the quarter, compared to analysts’ expectations of $0.42 million. Syros Pharmaceuticals had a negative net margin of 3,137.55% and a negative return on equity of 79.79%. As a group, analysts predict that Syros Pharmaceuticals will post -1.94 EPS for the current fiscal year.

In other Syros Pharmaceuticals news, major shareholder Venture Fund Vii L.P. Arch sold 63,000 shares of the company’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $7.77, for a total value of $489,510.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 14.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SYRS. Charles Schwab Investment Management Inc. lifted its position in shares of Syros Pharmaceuticals by 80.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 203,968 shares of the company’s stock valued at $1,889,000 after buying an additional 91,081 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Syros Pharmaceuticals by 11,319.2% during the 2nd quarter. Bank of Montreal Can now owns 2,969 shares of the company’s stock valued at $27,000 after buying an additional 2,943 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Syros Pharmaceuticals by 1.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 407,843 shares of the company’s stock valued at $3,242,000 after buying an additional 6,771 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of Syros Pharmaceuticals by 26.7% during the 2nd quarter. ARK Investment Management LLC now owns 3,791,756 shares of the company’s stock valued at $35,112,000 after buying an additional 799,056 shares in the last quarter. Finally, Nikko Asset Management Americas Inc. lifted its position in shares of Syros Pharmaceuticals by 336.5% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,987,763 shares of the company’s stock valued at $27,667,000 after buying an additional 2,303,288 shares in the last quarter. Institutional investors and hedge funds own 63.72% of the company’s stock.

Syros Pharmaceuticals Company Profile

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; SY-1365, a selective cyclin-dependent kinase 7 (CDK7) inhibitor, which is in a Phase I clinical trial that is used for treating patients with solid tumors and blood cancers, including ovarian and breast cancer; and SY-5609, a CDK7 inhibitor, which is in preclinical studies to treat oncology patients.

Further Reading: Recession

Get a free copy of the Zacks research report on Syros Pharmaceuticals (SYRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Syros Pharmaceuticals (NASDAQ:SYRS)

Receive News & Ratings for Syros Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syros Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.