JMP Securities Lowers Syros Pharmaceuticals (NASDAQ:SYRS) Price Target to $4.00

Syros Pharmaceuticals (NASDAQ:SYRS) had its price objective decreased by equities researchers at JMP Securities from $12.00 to $4.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “market outperform” rating on the stock. JMP Securities’ price target indicates a potential upside of 147.68% from the company’s previous close.

SYRS has been the topic of a number of other research reports. HC Wainwright restated a “buy” rating and issued a $15.00 target price on shares of Syros Pharmaceuticals in a research report on Thursday, August 1st. StockNews.com upgraded Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th.

Syros Pharmaceuticals Stock Performance

Shares of Syros Pharmaceuticals stock opened at $1.62 on Tuesday. Syros Pharmaceuticals has a one year low of $1.56 and a one year high of $8.17. The company has a debt-to-equity ratio of 1.97, a quick ratio of 3.46 and a current ratio of 3.46. The company has a market cap of $43.30 million, a price-to-earnings ratio of -0.32 and a beta of 1.53. The business’s 50 day moving average price is $5.45 and its 200 day moving average price is $5.80.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its earnings results on Tuesday, May 14th. The company reported ($0.79) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.10. Syros Pharmaceuticals had a negative return on equity of 850.20% and a negative net margin of 1,656.34%. During the same period in the prior year, the company earned ($0.85) EPS. On average, research analysts predict that Syros Pharmaceuticals will post -3.08 EPS for the current year.

Insider Activity

In other news, Director Richard A. Young sold 34,837 shares of Syros Pharmaceuticals stock in a transaction on Friday, June 28th. The stock was sold at an average price of $5.12, for a total value of $178,365.44. Following the completion of the sale, the director now directly owns 8,000 shares of the company’s stock, valued at $40,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 12.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SYRS. Bain Capital Life Sciences Investors LLC grew its stake in Syros Pharmaceuticals by 29.4% during the 4th quarter. Bain Capital Life Sciences Investors LLC now owns 2,749,808 shares of the company’s stock worth $21,421,000 after purchasing an additional 625,114 shares in the last quarter. Avidity Partners Management LP grew its stake in Syros Pharmaceuticals by 5.8% during the 4th quarter. Avidity Partners Management LP now owns 1,673,538 shares of the company’s stock worth $13,037,000 after purchasing an additional 92,396 shares in the last quarter. Flagship Pioneering Inc. grew its stake in Syros Pharmaceuticals by 30.2% during the 4th quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company’s stock worth $10,079,000 after purchasing an additional 300,000 shares in the last quarter. Opaleye Management Inc. acquired a new position in Syros Pharmaceuticals during the 4th quarter worth $2,799,000. Finally, Assenagon Asset Management S.A. grew its stake in Syros Pharmaceuticals by 576.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 169,999 shares of the company’s stock worth $909,000 after purchasing an additional 144,869 shares in the last quarter. 91.47% 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 hematologic malignancies. The company's lead product candidates are Tamibarotene, a selective retinoic acid receptor alpha agonist, which is in Phase III clinical trial for genomically defined subset of patients with myelodysplastic syndrome and Phase II clinical trial for patients with acute myeloid leukemia; SY-2101, a novel oral form of arsenic trioxide for treating patients with acute promyelocytic leukemia; and SY-5609, a cyclin-dependent kinase 7 inhibitor, which is in a Phase I clinical trial in patients with select advanced solid tumors.