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

StockNews.com downgraded shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

SYRS has been the topic of a number of other reports. HC Wainwright reissued a buy rating and issued a $15.00 price target on shares of Syros Pharmaceuticals in a report on Monday, April 1st. Piper Sandler reissued an overweight rating and issued a $13.00 price target on shares of Syros Pharmaceuticals in a report on Wednesday, April 3rd.

Syros Pharmaceuticals Price Performance

Shares of NASDAQ:SYRS opened at $4.54 on Wednesday. The company’s 50-day moving average is $6.24 and its 200 day moving average is $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 company has a market capitalization of $121.35 million, a P/E ratio of -0.79 and a beta of 1.74. Syros Pharmaceuticals has a fifty-two week low of $2.09 and a fifty-two week high of $8.17.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its quarterly 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. The company had revenue of $0.39 million for the quarter, compared to the consensus estimate of $2.40 million. Syros Pharmaceuticals had a negative net margin of 1,656.34% and a negative return on equity of 227.91%. On average, equities research analysts forecast that Syros Pharmaceuticals will post -3.78 earnings per share for the current year.

Institutional Investors Weigh In On Syros Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Clarius Group LLC purchased a new stake in Syros Pharmaceuticals during the third quarter valued at about $74,000. CHI Advisors LLC lifted its holdings in Syros Pharmaceuticals by 69.3% during the third quarter. CHI Advisors LLC now owns 1,299,359 shares of the company’s stock valued at $5,119,000 after purchasing an additional 531,914 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Syros Pharmaceuticals by 142.2% during the third quarter. Assenagon Asset Management S.A. now owns 25,130 shares of the company’s stock valued at $99,000 after buying an additional 14,754 shares during the period. Avidity Partners Management LP increased its position in shares of Syros Pharmaceuticals by 8.0% during the third quarter. Avidity Partners Management LP now owns 1,581,142 shares of the company’s stock valued at $6,246,000 after buying an additional 117,108 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Syros Pharmaceuticals by 418.6% during the second quarter. AQR Capital Management LLC now owns 96,651 shares of the company’s stock valued at $93,000 after buying an additional 78,015 shares during the period. 91.47% of the stock is owned by hedge funds and other 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.