Syros Pharmaceuticals (NASDAQ:SYRS) Downgraded by StockNews.com

StockNews.com cut shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a hold rating to a sell rating in a report issued on Wednesday.

A number of other equities analysts have also weighed in on SYRS. Piper Sandler reissued an overweight rating and issued a $13.00 target price on shares of Syros Pharmaceuticals in a research report on Wednesday, April 3rd. HC Wainwright reissued a buy rating and issued a $15.00 target price on shares of Syros Pharmaceuticals in a research report on Monday, April 1st.

Syros Pharmaceuticals Price Performance

Shares of NASDAQ:SYRS opened at $4.54 on Wednesday. Syros Pharmaceuticals has a fifty-two week low of $2.09 and a fifty-two week high of $8.17. The business has a 50-day simple moving average of $6.24 and a two-hundred day simple moving average of $5.19. The company has a debt-to-equity ratio of 2.07, a quick ratio of 3.95 and a current ratio of 3.95. The firm has a market cap of $121.35 million, a price-to-earnings ratio of -0.79 and a beta of 1.74.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its earnings results on Wednesday, March 27th. The company reported ($1.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.23) by $0.04. Syros Pharmaceuticals had a negative return on equity of 227.91% and a negative net margin of 1,656.34%. The business had revenue of $0.39 million during the quarter, compared to analyst estimates of $2.40 million. On average, analysts expect that Syros Pharmaceuticals will post -3.78 earnings per share for the current year.

Institutional Investors Weigh In On Syros Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in SYRS. Private Advisor Group LLC purchased a new stake in shares of Syros Pharmaceuticals during the 1st quarter valued at about $29,000. Sawtooth Solutions LLC purchased a new stake in shares of Syros Pharmaceuticals during the 1st quarter valued at about $29,000. Prudential Financial Inc. purchased a new stake in shares of Syros Pharmaceuticals during the 2nd quarter valued at about $32,000. BNP Paribas Arbitrage SA increased its position in shares of Syros Pharmaceuticals by 540.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 34,608 shares of the company’s stock valued at $33,000 after purchasing an additional 29,204 shares during the last quarter. Finally, Walleye Trading LLC bought a new position in shares of Syros Pharmaceuticals during the 1st quarter valued at approximately $36,000. Hedge funds and other institutional investors own 91.47% of the company’s stock.

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.