Syros Pharmaceuticals (NASDAQ:SYRS) Rating Lowered to Sell at Zacks Investment Research

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Zacks Investment Research cut shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a hold rating to a sell rating in a research note released on Thursday, 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. “

A number of other analysts have also commented on the company. Roth Capital assumed coverage on Syros Pharmaceuticals in a report on Friday, July 12th. They set a buy rating and a $17.00 price target on the stock. Wedbush reiterated an outperform rating and set a $13.00 price target on shares of Syros Pharmaceuticals in a report on Thursday, April 25th. HC Wainwright reiterated a neutral rating on shares of Syros Pharmaceuticals in a report on Thursday, May 2nd. BidaskClub upgraded Syros Pharmaceuticals from a hold rating to a buy rating in a report on Friday, July 12th. Finally, ValuEngine upgraded Syros Pharmaceuticals from a sell rating to a hold rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $16.03.

Shares of Syros Pharmaceuticals stock opened at $11.08 on Thursday. The business’s fifty day simple moving average is $8.25 and its 200 day simple moving average is $7.35. The firm has a market capitalization of $418.02 million, a P/E ratio of -5.80 and a beta of 1.94. Syros Pharmaceuticals has a 12 month low of $5.17 and a 12 month high of $13.16. 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 issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.47) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.06). The business had revenue of $0.46 million for the quarter, compared to the consensus estimate of $0.42 million. Syros Pharmaceuticals had a negative return on equity of 79.79% and a negative net margin of 3,137.55%. 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 business’s stock in a transaction on Wednesday, July 17th. The stock was 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 SEC, which can be accessed through this hyperlink. Insiders own 14.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Syros Pharmaceuticals by 23.1% during the 4th quarter. BlackRock Inc. now owns 1,986,130 shares of the company’s stock worth $11,063,000 after purchasing an additional 372,462 shares during the period. Bank of New York Mellon Corp boosted its position in Syros Pharmaceuticals by 8.9% in the 4th quarter. Bank of New York Mellon Corp now owns 84,537 shares of the company’s stock valued at $470,000 after buying an additional 6,883 shares during the period. Northern Trust Corp boosted its position in Syros Pharmaceuticals by 0.7% in the 4th quarter. Northern Trust Corp now owns 306,167 shares of the company’s stock valued at $1,705,000 after buying an additional 2,179 shares during the period. Dimensional Fund Advisors LP boosted its position in Syros Pharmaceuticals by 62.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 244,080 shares of the company’s stock valued at $1,360,000 after buying an additional 93,728 shares during the period. Finally, Geode Capital Management LLC boosted its position in Syros Pharmaceuticals by 10.3% in the 4th quarter. Geode Capital Management LLC now owns 249,668 shares of the company’s stock valued at $1,390,000 after buying an additional 23,234 shares during the period. Institutional investors own 65.27% 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; 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.

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