Syros Pharmaceuticals’ (SYRS) “Buy” Rating Reaffirmed at Cann

Cann reaffirmed their buy rating on shares of Syros Pharmaceuticals (NASDAQ:SYRS) in a report released on Thursday. The firm currently has a $26.00 target price on the stock.

“Syros’ 3Q18 loss per share was $0.47, in line with our estimate. Operating expenses of $16.7 million were slightly higher than our estimated $16.3 million, but were offset by higher interest income and slightly higher number of shares outstanding. There were no other remarkable variances in the quarter. Syros has a number of data presentations approaching, which we believe are very important for the company.”,” Cann’s analyst commented.

SYRS has been the subject of a number of other research reports. BidaskClub cut Syros Pharmaceuticals from a hold rating to a sell rating in a research report on Thursday, October 4th. Cowen reaffirmed a buy rating on shares of Syros Pharmaceuticals in a research report on Tuesday, July 17th. Zacks Investment Research cut Syros Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, July 17th. ValuEngine raised Syros Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, July 5th. Finally, HC Wainwright reaffirmed a hold rating and set a $10.00 target price on shares of Syros Pharmaceuticals in a research report on Wednesday, August 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Syros Pharmaceuticals currently has an average rating of Hold and an average target price of $20.17.

NASDAQ:SYRS traded up $0.35 during mid-day trading on Thursday, reaching $7.76. The stock had a trading volume of 95,800 shares, compared to its average volume of 182,466. Syros Pharmaceuticals has a fifty-two week low of $6.25 and a fifty-two week high of $15.88. The company has a market capitalization of $230.87 million, a P/E ratio of -3.64 and a beta of -1.96.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its earnings results on Thursday, November 1st. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.02). The business had revenue of $0.41 million during the quarter, compared to analysts’ expectations of $0.72 million. On average, equities analysts predict that Syros Pharmaceuticals will post -1.85 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC bought a new stake in shares of Syros Pharmaceuticals in the third quarter valued at approximately $731,000. Alps Advisors Inc. boosted its position in shares of Syros Pharmaceuticals by 26.0% in the third quarter. Alps Advisors Inc. now owns 59,553 shares of the company’s stock valued at $709,000 after acquiring an additional 12,280 shares during the period. Northern Trust Corp boosted its position in shares of Syros Pharmaceuticals by 52.2% in the second quarter. Northern Trust Corp now owns 275,638 shares of the company’s stock valued at $2,814,000 after acquiring an additional 94,548 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Syros Pharmaceuticals by 36.8% in the second quarter. Bank of New York Mellon Corp now owns 70,592 shares of the company’s stock valued at $720,000 after acquiring an additional 19,005 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Syros Pharmaceuticals by 129.3% in the second quarter. Millennium Management LLC now owns 375,466 shares of the company’s stock valued at $3,834,000 after acquiring an additional 211,696 shares during the period. 60.70% 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 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; and SY-1365, a selective CDK7 inhibitor, which is in a Phase I clinical trial that is used for treating patients with solid tumors and blood cancers, including ovarian cancer, breast cancer, and AML.

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Analyst Recommendations for Syros Pharmaceuticals (NASDAQ:SYRS)

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