Syros Pharmaceuticals (NASDAQ:SYRS) Releases Earnings Results, Beats Expectations By $0.08 EPS

Syros Pharmaceuticals (NASDAQ:SYRS) issued its earnings results on Thursday. The company reported ($0.68) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.08, Zacks reports. During the same quarter in the prior year, the business posted ($1.35) EPS.

Syros Pharmaceuticals Stock Down 10.1 %

SYRS stock traded down $0.25 during trading on Friday, hitting $2.27. The stock had a trading volume of 523,538 shares, compared to its average volume of 417,187. Syros Pharmaceuticals has a 1-year low of $1.43 and a 1-year high of $8.17. The company’s 50 day moving average price is $1.92 and its two-hundred day moving average price is $3.97. The company has a current ratio of 3.46, a quick ratio of 3.46 and a debt-to-equity ratio of 1.97.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $5.00 price target (down previously from $13.00) on shares of Syros Pharmaceuticals in a research note on Tuesday, August 13th. HC Wainwright reaffirmed a “buy” rating and issued a $6.00 price objective on shares of Syros Pharmaceuticals in a report on Friday. JMP Securities lowered their price target on shares of Syros Pharmaceuticals from $12.00 to $4.00 and set a “market outperform” rating on the stock in a report on Tuesday, August 13th. Finally, StockNews.com upgraded shares of Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, October 15th.

Insider Buying and Selling

In other news, CEO Conley Chee acquired 50,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were purchased at an average price of $1.51 per share, for a total transaction of $75,500.00. Following the acquisition, the chief executive officer now directly owns 72,504 shares of the company’s stock, valued at $109,481.04. This represents a 200.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Syros Pharmaceuticals news, CFO Jason Haas purchased 45,344 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were bought at an average price of $1.68 per share, for a total transaction of $76,177.92. Following the purchase, the chief financial officer now directly owns 124,552 shares in the company, valued at $209,247.36. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Conley Chee bought 50,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was purchased at an average price of $1.51 per share, for a total transaction of $75,500.00. Following the completion of the purchase, the chief executive officer now directly owns 72,504 shares in the company, valued at $109,481.04. The trade was a 200.00 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 130,707 shares of company stock valued at $206,491. 12.26% of the stock is currently owned by corporate insiders.

About Syros Pharmaceuticals

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.