Syros Pharmaceuticals (NASDAQ:SYRS) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Syros Pharmaceuticals (NASDAQ:SYRS) from a hold rating to a sell rating in a research note issued to investors on Wednesday, 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. “

Several other research analysts also recently weighed in on the stock. HC Wainwright reissued a neutral rating on shares of Syros Pharmaceuticals in a research note on Thursday, May 2nd. ValuEngine raised shares of Syros Pharmaceuticals from a sell rating to a hold rating in a research note on Wednesday, June 26th. BidaskClub raised shares of Syros Pharmaceuticals from a hold rating to a buy rating in a research note on Friday, July 12th. Roth Capital began coverage on shares of Syros Pharmaceuticals in a research note on Friday, July 12th. They issued a buy rating and a $17.00 target price for the company. Finally, Wedbush reissued an outperform rating and issued a $13.00 target price on shares of Syros Pharmaceuticals in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $16.03.

Shares of SYRS stock opened at $10.83 on Wednesday. The firm has a 50-day moving average price of $8.57 and a 200 day moving average price of $7.50. Syros Pharmaceuticals has a twelve month low of $5.17 and a twelve month high of $13.16. The company has a market capitalization of $466.40 million, a price-to-earnings ratio of -5.67 and a beta of 1.94. 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 announced its earnings results on Thursday, August 1st. The company reported ($0.47) earnings per share for the quarter, missing the 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 firm had revenue of $0.46 million during the quarter, compared to analyst estimates of $0.42 million. As a group, research analysts predict that Syros Pharmaceuticals will post -1.94 earnings per share for the current year.

In other news, Director Richard A. Young sold 25,000 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $10.00, for a total transaction of $250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Venture Fund Vii L.P. Arch sold 63,000 shares of the company’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $7.77, for a total transaction of $489,510.00. The disclosure for this sale can be found here. Corporate insiders own 14.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. ARK Investment Management LLC increased its stake in shares of 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 acquiring an additional 799,056 shares during the last quarter. Nikko Asset Management Americas Inc. increased its stake in shares of Syros Pharmaceuticals by 336.5% during the 2nd quarter. Nikko Asset Management Americas Inc. now owns 2,987,763 shares of the company’s stock valued at $27,667,000 after acquiring an additional 2,303,288 shares during the last quarter. BlackRock Inc. increased its stake in shares of Syros Pharmaceuticals by 32.7% during the 2nd quarter. BlackRock Inc. now owns 2,667,156 shares of the company’s stock valued at $24,698,000 after acquiring an additional 656,735 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Syros Pharmaceuticals by 95.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,765,010 shares of the company’s stock valued at $16,344,000 after acquiring an additional 863,074 shares during the last quarter. Finally, Samsara BioCapital LLC increased its stake in shares of Syros Pharmaceuticals by 62.9% during the 2nd quarter. Samsara BioCapital LLC now owns 1,726,603 shares of the company’s stock valued at $15,228,000 after acquiring an additional 666,665 shares during the last quarter. 69.66% of the stock is owned by institutional investors.

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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