StockNews.com Downgrades Syros Pharmaceuticals (NASDAQ:SYRS) to Sell

Syros Pharmaceuticals (NASDAQ:SYRS – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

A number of other research firms have also weighed in on SYRS. Piper Sandler decreased their target price on Syros Pharmaceuticals from $18.00 to $10.00 in a report on Monday, January 10th. Zacks Investment Research lowered Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday, January 7th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $14.60.

NASDAQ:SYRS opened at $1.06 on Thursday. The firm has a market capitalization of $65.81 million, a price-to-earnings ratio of -0.77 and a beta of 2.14. Syros Pharmaceuticals has a twelve month low of $0.78 and a twelve month high of $7.03. The stock’s 50 day moving average price is $1.08 and its two-hundred day moving average price is $2.48. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.47.

Syros Pharmaceuticals (NASDAQ:SYRS – Get Rating) last posted its quarterly earnings results on Tuesday, March 15th. The company reported ($0.42) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.02. The firm had revenue of $7.80 million for the quarter, compared to analyst estimates of $5.65 million. Syros Pharmaceuticals had a negative return on equity of 75.67% and a negative net margin of 368.52%. During the same quarter in the previous year, the firm earned ($0.61) EPS. As a group, analysts anticipate that Syros Pharmaceuticals will post -1.83 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Citigroup Inc. grew its holdings in Syros Pharmaceuticals by 49.5% in the 3rd quarter. Citigroup Inc. now owns 9,702 shares of the company’s stock valued at $43,000 after buying an additional 3,213 shares in the last quarter. Invesco Ltd. grew its holdings in Syros Pharmaceuticals by 19.9% in the 3rd quarter. Invesco Ltd. now owns 21,843 shares of the company’s stock valued at $97,000 after buying an additional 3,629 shares in the last quarter. Point72 Hong Kong Ltd grew its holdings in Syros Pharmaceuticals by 168.8% in the 3rd quarter. Point72 Hong Kong Ltd now owns 7,062 shares of the company’s stock valued at $32,000 after buying an additional 4,435 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in Syros Pharmaceuticals by 397.9% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 10,699 shares of the company’s stock valued at $48,000 after buying an additional 8,550 shares in the last quarter. Finally, LPL Financial LLC grew its holdings in Syros Pharmaceuticals by 23.7% in the 3rd quarter. LPL Financial LLC now owns 47,115 shares of the company’s stock valued at $211,000 after buying an additional 9,025 shares in the last quarter. 77.18% of the stock is currently owned by hedge funds and other institutional investors.

About Syros Pharmaceuticals (Get Rating)

Syros Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development of treatments for cancer and monogenic diseases, and building a pipeline of gene control medicines. 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.

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