Syros Pharmaceuticals (NASDAQ:SYRS) had its price objective decreased by equities research analysts at JMP Securities from $18.00 to $16.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage currently has a “market outperform” rating on the stock. JMP Securities’ target price would indicate a potential upside of 128.40% from the stock’s previous close.
Other analysts have also issued research reports about the stock. ValuEngine upgraded shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research upgraded shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, September 28th. Roth Capital began coverage on shares of Syros Pharmaceuticals in a research note on Friday, July 12th. They set a “buy” rating and a $17.00 price target for the company. Piper Jaffray Companies decreased their price target on shares of Syros Pharmaceuticals from $24.00 to $18.00 in a research note on Thursday. Finally, BidaskClub upgraded shares of Syros Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $15.03.
Shares of Syros Pharmaceuticals stock traded up $0.15 during trading on Friday, reaching $7.01. 179,743 shares of the company traded hands, compared to its average volume of 138,180. The company has a debt-to-equity ratio of 0.15, a current ratio of 8.11 and a quick ratio of 8.11. Syros Pharmaceuticals has a 1-year low of $5.17 and a 1-year high of $11.93. The company has a 50 day moving average price of $10.06 and a 200-day moving average price of $8.24. The firm has a market capitalization of $396.80 million, a PE ratio of -3.67 and a beta of 1.61.
Syros Pharmaceuticals (NASDAQ:SYRS) last released its earnings results 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). Syros Pharmaceuticals had a negative net margin of 3,137.55% and a negative return on equity of 79.79%. The company had revenue of $0.46 million for the quarter, compared to analyst estimates of $0.42 million. Equities research analysts expect that Syros Pharmaceuticals will post -1.94 earnings per share for the current year.
In other Syros Pharmaceuticals news, Director Richard A. Young sold 25,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 14.80% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. ARK Investment Management LLC increased its stake in 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 purchasing an additional 799,056 shares in the last quarter. Nikko Asset Management Americas Inc. grew its stake in shares of Syros Pharmaceuticals by 336.5% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,987,763 shares of the company’s stock worth $27,667,000 after acquiring an additional 2,303,288 shares in the last quarter. BlackRock Inc. grew its stake in shares of Syros Pharmaceuticals by 32.7% in the 2nd quarter. BlackRock Inc. now owns 2,667,156 shares of the company’s stock worth $24,698,000 after acquiring an additional 656,735 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Syros Pharmaceuticals by 95.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,765,010 shares of the company’s stock worth $16,344,000 after acquiring an additional 863,074 shares in the last quarter. Finally, Samsara BioCapital LLC grew its stake in shares of Syros Pharmaceuticals by 62.9% in the 2nd quarter. Samsara BioCapital LLC now owns 1,726,603 shares of the company’s stock worth $15,228,000 after acquiring an additional 666,665 shares in the last quarter. Institutional investors and hedge funds own 82.08% 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: Average Daily Trade Volume – ADTV
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