Syros Pharmaceuticals Inc (SYRS) Expected to Announce Earnings of -$0.42 Per Share

Wall Street brokerages forecast that Syros Pharmaceuticals Inc (NASDAQ:SYRS) will report earnings of ($0.42) per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Syros Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.45) and the highest estimate coming in at ($0.39). Syros Pharmaceuticals reported earnings per share of ($0.43) during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The company is expected to issue its next quarterly earnings report on Tuesday, August 6th.

On average, analysts expect that Syros Pharmaceuticals will report full-year earnings of ($1.82) per share for the current fiscal year, with EPS estimates ranging from ($1.99) to ($1.70). For the next year, analysts anticipate that the firm will report earnings of ($1.85) per share, with EPS estimates ranging from ($2.19) to ($1.59). Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Syros Pharmaceuticals.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its earnings results on Wednesday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.57) by $0.08. Syros Pharmaceuticals had a negative net margin of 3,012.04% and a negative return on equity of 74.28%. The company had revenue of $0.45 million for the quarter, compared to the consensus estimate of $0.42 million.

A number of analysts recently weighed in on the stock. Roth Capital set a $14.00 price target on shares of Syros Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, March 8th. ValuEngine downgraded shares of Syros Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. Piper Jaffray Companies cut their price target on shares of Syros Pharmaceuticals from $28.00 to $24.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. HC Wainwright reiterated a “hold” rating and issued a $10.00 price target on shares of Syros Pharmaceuticals in a research report on Friday, March 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $13.00 price target on shares of Syros Pharmaceuticals in a research report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Syros Pharmaceuticals currently has an average rating of “Buy” and an average price target of $15.66.

Syros Pharmaceuticals stock traded down $0.09 during trading hours on Friday, reaching $5.69. 1,048 shares of the company’s stock traded hands, compared to its average volume of 103,468. The company has a current ratio of 5.19, a quick ratio of 5.19 and a debt-to-equity ratio of 0.02. Syros Pharmaceuticals has a fifty-two week low of $5.17 and a fifty-two week high of $13.73. The company has a market cap of $187.43 million, a PE ratio of -2.96 and a beta of 1.27.

In related news, major shareholder Venture Fund Vii L.P. Arch sold 167,503 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $7.83, for a total transaction of $1,311,548.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Srinivas Akkaraju bought 533,332 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were acquired at an average cost of $7.50 per share, with a total value of $3,999,990.00. The disclosure for this purchase can be found here. 14.80% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in shares of Syros Pharmaceuticals by 10.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 77,654 shares of the company’s stock worth $925,000 after acquiring an additional 7,062 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Syros Pharmaceuticals by 2.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 369,959 shares of the company’s stock worth $4,406,000 after acquiring an additional 8,286 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Syros Pharmaceuticals by 4.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,044,939 shares of the company’s stock worth $12,446,000 after acquiring an additional 43,562 shares in the last quarter. Vanguard Group Inc grew its stake in shares of Syros Pharmaceuticals by 4.4% during the 3rd quarter. Vanguard Group Inc now owns 1,044,939 shares of the company’s stock worth $12,446,000 after acquiring an additional 43,562 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Syros Pharmaceuticals during the 4th quarter worth approximately $502,000. 72.73% of the stock is owned by institutional investors and hedge funds.

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.

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Earnings History and Estimates for Syros Pharmaceuticals (NASDAQ:SYRS)

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