$420,000.00 in Sales Expected for Syros Pharmaceuticals Inc (NASDAQ:SYRS) This Quarter

Brokerages expect Syros Pharmaceuticals Inc (NASDAQ:SYRS) to post sales of $420,000.00 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Syros Pharmaceuticals’ earnings. The highest sales estimate is $450,000.00 and the lowest is $400,000.00. Syros Pharmaceuticals posted sales of $380,000.00 in the same quarter last year, which suggests a positive year-over-year growth rate of 10.5%. The business is expected to announce its next quarterly earnings report on Tuesday, August 6th.

On average, analysts expect that Syros Pharmaceuticals will report full year sales of $1.72 million for the current year, with estimates ranging from $1.65 million to $1.80 million. For the next fiscal year, analysts forecast that the business will post sales of $1.87 million, with estimates ranging from $1.60 million to $2.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Syros Pharmaceuticals.

Syros Pharmaceuticals (NASDAQ:SYRS) last announced its earnings results on Wednesday, May 1st. The company reported ($0.49) earnings per share for the quarter, beating the consensus estimate of ($0.57) by $0.08. Syros Pharmaceuticals had a negative return on equity of 74.28% and a negative net margin of 3,012.04%. The firm had revenue of $0.45 million during the quarter, compared to the consensus estimate of $0.42 million.

Several analysts recently weighed in on SYRS shares. Roth Capital set a $14.00 target price on Syros Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, March 8th. HC Wainwright restated a “hold” rating and set a $10.00 target price on shares of Syros Pharmaceuticals in a research note on Friday, March 8th. Oppenheimer restated an “outperform” rating and set a $13.00 target price on shares of Syros Pharmaceuticals in a research note on Thursday, February 14th. JMP Securities restated a “mkt outperform” rating and set a $18.00 target price on shares of Syros Pharmaceuticals in a research note on Friday, March 8th. Finally, Piper Jaffray Companies decreased their target price on Syros Pharmaceuticals from $28.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, April 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Syros Pharmaceuticals presently has an average rating of “Buy” and an average target price of $15.66.

In other Syros Pharmaceuticals news, major shareholder Venture Fund Vii L.P. Arch sold 164,583 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $6.80, for a total value of $1,119,164.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Srinivas Akkaraju purchased 533,332 shares of the business’s stock in a transaction on Tuesday, April 9th. The stock was purchased 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. Corporate insiders own 14.80% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA acquired a new position in shares of Syros Pharmaceuticals in the 1st quarter worth approximately $48,000. The Manufacturers Life Insurance Company acquired a new position in shares of Syros Pharmaceuticals in the 1st quarter worth approximately $93,000. Voya Investment Management LLC acquired a new position in shares of Syros Pharmaceuticals in the 1st quarter worth approximately $95,000. Bank of America Corp DE raised its holdings in shares of Syros Pharmaceuticals by 205.9% in the 4th quarter. Bank of America Corp DE now owns 17,400 shares of the company’s stock worth $98,000 after buying an additional 11,711 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Syros Pharmaceuticals in the 1st quarter worth approximately $99,000. 72.73% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:SYRS traded up $0.22 during mid-day trading on Monday, hitting $5.96. 41,315 shares of the company’s stock traded hands, compared to its average volume of 100,819. Syros Pharmaceuticals has a 12 month low of $5.17 and a 12 month high of $13.58. The company has a market cap of $243.57 million, a price-to-earnings ratio of -3.12 and a beta of 1.27. The company has a quick ratio of 5.19, a current ratio of 5.19 and a debt-to-equity ratio of 0.02.

About Syros Pharmaceuticals

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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Earnings History and Estimates for Syros Pharmaceuticals (NASDAQ:SYRS)

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