Syros Pharmaceuticals Inc (NASDAQ:SYRS) – Piper Jaffray Companies increased their Q2 2019 earnings estimates for shares of Syros Pharmaceuticals in a note issued to investors on Wednesday, May 1st. Piper Jaffray Companies analyst E. Tenthoff now forecasts that the company will earn ($0.39) per share for the quarter, up from their prior forecast of ($0.40). Piper Jaffray Companies currently has a “Overweight” rating and a $24.00 target price on the stock. Piper Jaffray Companies also issued estimates for Syros Pharmaceuticals’ Q3 2019 earnings at ($0.40) EPS, Q4 2019 earnings at ($0.42) EPS, FY2019 earnings at ($1.70) EPS, Q1 2020 earnings at ($0.42) EPS, Q2 2020 earnings at ($0.44) EPS, Q3 2020 earnings at ($0.45) EPS, Q4 2020 earnings at ($0.48) EPS and FY2020 earnings at ($1.78) EPS.
Syros Pharmaceuticals (NASDAQ:SYRS) last issued its earnings results on Wednesday, May 1st. The company reported ($0.49) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.57) by $0.08. The firm had revenue of $0.45 million for the quarter, compared to the consensus estimate of $0.42 million. Syros Pharmaceuticals had a negative net margin of 3,038.00% and a negative return on equity of 64.43%.
A number of other research analysts also recently weighed in on the stock. Roth Capital set a $14.00 price objective on shares of Syros Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, March 8th. Oppenheimer set a $13.00 price objective on shares of Syros Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, March 7th. HC Wainwright restated a “hold” rating and set a $10.00 price objective on shares of Syros Pharmaceuticals in a research report on Friday, March 8th. JMP Securities restated a “mkt outperform” rating and set a $18.00 price objective on shares of Syros Pharmaceuticals in a research report on Friday, March 8th. Finally, Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Syros Pharmaceuticals in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $16.38.
Shares of NASDAQ SYRS opened at $6.84 on Friday. The company has a market capitalization of $234.96 million, a PE ratio of -3.58 and a beta of 1.10. Syros Pharmaceuticals has a 52-week low of $5.17 and a 52-week high of $13.73.
A number of hedge funds have recently made changes to their positions in SYRS. Nikko Asset Management Americas Inc. increased its holdings in Syros Pharmaceuticals by 33,768.1% during the first quarter. Nikko Asset Management Americas Inc. now owns 684,475 shares of the company’s stock valued at $6,256,000 after buying an additional 682,454 shares during the last quarter. BlackRock Inc. increased its stake in shares of Syros Pharmaceuticals by 23.1% in the fourth quarter. BlackRock Inc. now owns 1,986,130 shares of the company’s stock worth $11,063,000 after purchasing an additional 372,462 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in shares of Syros Pharmaceuticals in the third quarter worth $1,791,000. Assenagon Asset Management S.A. purchased a new stake in shares of Syros Pharmaceuticals in the fourth quarter worth $502,000. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Syros Pharmaceuticals by 763.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 88,882 shares of the company’s stock worth $496,000 after purchasing an additional 78,591 shares in the last quarter. 67.83% of the stock is owned by institutional investors and hedge funds.
In other Syros Pharmaceuticals news, major shareholder Venture Fund Vii L.P. Arch sold 167,503 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $7.83, for a total transaction of $1,311,548.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Srinivas Akkaraju bought 533,332 shares of Syros Pharmaceuticals stock in a transaction 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. 27.80% of the stock is owned by corporate insiders.
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.