Syros Pharmaceuticals Inc (SYRS) Rating Increased to Buy at Zacks Investment Research

Syros Pharmaceuticals Inc (NASDAQ:SYRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $16.00 target price on the stock. Zacks Investment Research’s price target suggests a potential upside of 2.96% from the stock’s previous close.

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. “

Several other brokerages have also issued reports on SYRS. Cann reissued a “buy” rating and set a $28.00 target price on shares of Syros Pharmaceuticals in a research note on Monday, December 12th. Wedbush reissued an “outperform” rating and set a $18.00 target price (down from $22.00) on shares of Syros Pharmaceuticals in a research note on Monday, March 20th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating and set a $28.00 target price on shares of Syros Pharmaceuticals in a research note on Thursday, December 15th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.29.

Analyst Recommendations for Syros Pharmaceuticals (NASDAQ:SYRS)

Syros Pharmaceuticals (NASDAQ:SYRS) traded up 2.44% during trading on Thursday, reaching $15.54. The company had a trading volume of 7,907 shares. The company has a 50-day moving average of $14.29 and a 200-day moving average of $13.30. The firm’s market capitalization is $363.51 million. Syros Pharmaceuticals has a 52-week low of $8.16 and a 52-week high of $21.50.

Syros Pharmaceuticals (NASDAQ:SYRS) last issued its earnings results on Monday, March 20th. The company reported ($0.47) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.17. The company had revenue of $0.32 million for the quarter. Analysts expect that Syros Pharmaceuticals will post ($3.02) EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new position in Syros Pharmaceuticals during the third quarter worth $1,892,000. Alyeska Investment Group L.P. raised its position in Syros Pharmaceuticals by 0.8% in the fourth quarter. Alyeska Investment Group L.P. now owns 113,543 shares of the company’s stock worth $1,381,000 after buying an additional 906 shares during the period. Baker BROS. Advisors LP acquired a new position in Syros Pharmaceuticals during the third quarter worth $2,836,000. Spark Investment Management LLC acquired a new position in Syros Pharmaceuticals during the third quarter worth $160,000. Finally, AWM Investment Company Inc. acquired a new position in Syros Pharmaceuticals during the third quarter worth $660,000. 54.47% of the stock is currently owned by hedge funds and other institutional investors.

About Syros Pharmaceuticals

Syros Pharmaceuticals, Inc is a biopharmaceutical company. The Company offers a gene control platform designed to analyze the unexploited region of deoxyribonucleic acid (DNA) in human disease tissue to identify and drug targets linked to genomically defined patient populations. The Company is focused on developing treatments for cancer and immune-mediated diseases and is building a pipeline of gene control medicines.

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