Wall Street brokerages expect Syros Pharmaceuticals, Inc. (NASDAQ:SYRS) to announce $3.21 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for Syros Pharmaceuticals’ earnings, with the highest sales estimate coming in at $5.50 million and the lowest estimate coming in at $400,000.00. Syros Pharmaceuticals posted sales of $510,000.00 in the same quarter last year, which suggests a positive year over year growth rate of 529.4%. The firm is scheduled to report its next earnings report on Thursday, March 4th.
According to Zacks, analysts expect that Syros Pharmaceuticals will report full-year sales of $12.60 million for the current fiscal year, with estimates ranging from $9.81 million to $14.90 million. For the next financial year, analysts forecast that the firm will report sales of $8.78 million, with estimates ranging from $1.60 million to $15.31 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Syros Pharmaceuticals.
Syros Pharmaceuticals (NASDAQ:SYRS) last issued its earnings results on Thursday, November 5th. The company reported ($0.43) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.38) by ($0.05). Syros Pharmaceuticals had a negative net margin of 1,114.79% and a negative return on equity of 94.59%. The firm had revenue of $3.83 million during the quarter, compared to analyst estimates of $2.83 million.
A number of equities analysts have commented on the company. Roth Capital boosted their price objective on Syros Pharmaceuticals from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. ValuEngine downgraded shares of Syros Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, October 23rd. HC Wainwright raised shares of Syros Pharmaceuticals from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $11.00 to $15.00 in a report on Wednesday, November 4th. Brookline Capital Management began coverage on shares of Syros Pharmaceuticals in a research note on Tuesday, November 10th. They issued a “buy” rating and a $19.00 target price for the company. Finally, Oppenheimer started coverage on shares of Syros Pharmaceuticals in a research note on Friday, November 6th. They set a “buy” rating and a $13.00 price target on the stock. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $15.78.
In other news, Director Richard A. Young sold 5,673 shares of the stock in a transaction on Monday, October 19th. The stock was sold at an average price of $8.75, for a total value of $49,638.75. Following the transaction, the director now owns 335,201 shares of the company’s stock, valued at approximately $2,933,008.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 14.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System bought a new position in Syros Pharmaceuticals during the second quarter worth about $228,000. FMR LLC grew its holdings in Syros Pharmaceuticals by 5.5% during the second quarter. FMR LLC now owns 6,623,200 shares of the company’s stock valued at $70,603,000 after purchasing an additional 344,216 shares during the period. California Public Employees Retirement System increased its stake in Syros Pharmaceuticals by 170.6% in the second quarter. California Public Employees Retirement System now owns 94,694 shares of the company’s stock valued at $1,009,000 after purchasing an additional 59,697 shares in the last quarter. Vanguard Group Inc. raised its holdings in Syros Pharmaceuticals by 5.7% in the second quarter. Vanguard Group Inc. now owns 1,901,373 shares of the company’s stock worth $20,269,000 after purchasing an additional 103,005 shares during the period. Finally, New York State Common Retirement Fund boosted its position in shares of Syros Pharmaceuticals by 29.1% during the second quarter. New York State Common Retirement Fund now owns 40,400 shares of the company’s stock worth $431,000 after purchasing an additional 9,100 shares in the last quarter. Institutional investors and hedge funds own 97.66% of the company’s stock.
NASDAQ SYRS opened at $13.08 on Friday. The stock’s 50 day simple moving average is $9.31 and its 200 day simple moving average is $10.08. Syros Pharmaceuticals has a one year low of $4.26 and a one year high of $15.65. The firm has a market cap of $599.21 million, a PE ratio of -7.69 and a beta of 1.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.85 and a quick ratio of 4.85.
Syros Pharmaceuticals Company Profile
Syros Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development of treatments for cancer and monogenic diseases, and building a pipeline of gene control medicines. The company’s lead product candidates are SY-1425, a selective retinoic acid receptor alpha agonist, which is in a Phase II clinical trial for genomically defined subset of patients with acute myeloid leukemia and myelodysplastic syndrome; and SY-5609, a cyclin-dependent kinase 7 inhibitor, which is in a Phase I clinical trial in patients with select advanced solid tumors.
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