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

Syros Pharmaceuticals (NASDAQ:SYRS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued 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. “

Other analysts also recently issued research reports about the company. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Syros Pharmaceuticals in a research report on Thursday, April 25th. HC Wainwright restated a “neutral” rating on shares of Syros Pharmaceuticals in a research report on Thursday, May 2nd. Roth Capital assumed coverage on Syros Pharmaceuticals in a research report on Friday, July 12th. They issued a “buy” rating and a $17.00 target price for the company. ValuEngine upgraded Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, June 26th. Finally, BidaskClub upgraded Syros Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Friday, July 12th. 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’s stock. Syros Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $16.03.

NASDAQ:SYRS traded down $0.22 during mid-day trading on Thursday, reaching $9.71. The stock had a trading volume of 2,066 shares, compared to its average volume of 158,111. The company has a 50 day moving average price of $8.14. The company has a market capitalization of $411.24 million, a PE ratio of -5.08 and a beta of 1.94. Syros Pharmaceuticals has a one year low of $5.17 and a one year high of $13.16. The company has a quick ratio of 8.11, a current ratio of 8.11 and a debt-to-equity ratio of 0.15.

Syros Pharmaceuticals (NASDAQ:SYRS) last released its earnings results on Thursday, August 1st. The company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.41) by ($0.06). The firm had revenue of $0.46 million during 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%. Equities research analysts anticipate that Syros Pharmaceuticals will post -1.94 earnings per share for the current 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 that occurred 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 14.80% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of SYRS. Bank of Montreal Can increased its stake in shares of Syros Pharmaceuticals by 11,319.2% during the second quarter. Bank of Montreal Can now owns 2,969 shares of the company’s stock valued at $27,000 after buying an additional 2,943 shares during the period. BNP Paribas Arbitrage SA purchased a new stake in Syros Pharmaceuticals in the first quarter worth $48,000. Bank of America Corp DE grew its stake in Syros Pharmaceuticals by 205.9% in the fourth quarter. Bank of America Corp DE now owns 17,400 shares of the company’s stock worth $98,000 after purchasing an additional 11,711 shares during the period. A.R.T. Advisors LLC purchased a new stake in Syros Pharmaceuticals in the second quarter worth $119,000. Finally, Algert Global LLC purchased a new stake in Syros Pharmaceuticals in the second quarter worth $166,000. 65.27% of the stock is currently owned by hedge funds and other 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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