Piper Sandler Reiterates Overweight Rating for Syros Pharmaceuticals (NASDAQ:SYRS)

Syros Pharmaceuticals (NASDAQ:SYRS - Get Free Report)'s stock had its "overweight" rating restated by investment analysts at Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They presently have a $13.00 price objective on the stock. Piper Sandler's price objective indicates a potential upside of 161.04% from the company's previous close.

Other equities research analysts have also issued research reports about the company. HC Wainwright reaffirmed a "buy" rating and set a $15.00 price target on shares of Syros Pharmaceuticals in a research report on Monday. StockNews.com raised Syros Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Thursday, March 28th.

Syros Pharmaceuticals Trading Up 7.4 %

SYRS traded up $0.35 during midday trading on Wednesday, reaching $4.98. 430,399 shares of the company were exchanged, compared to its average volume of 208,178. The company has a debt-to-equity ratio of 2.07, a quick ratio of 3.95 and a current ratio of 3.95. Syros Pharmaceuticals has a one year low of $2.09 and a one year high of $8.17. The stock has a market capitalization of $131.72 million, a P/E ratio of -0.86 and a beta of 1.74. The stock's 50-day simple moving average is $6.73 and its 200 day simple moving average is $5.10.

Institutional Investors Weigh In On Syros Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Syros Pharmaceuticals by 44.8% in the 4th quarter. Vanguard Group Inc. now owns 764,812 shares of the company's stock valued at $5,958,000 after buying an additional 236,620 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Syros Pharmaceuticals by 125.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 239,681 shares of the company's stock valued at $1,867,000 after purchasing an additional 133,149 shares in the last quarter. Blue Owl Capital Holdings LP bought a new position in Syros Pharmaceuticals in the fourth quarter valued at approximately $11,632,000. Opaleye Management Inc. bought a new position in Syros Pharmaceuticals in the fourth quarter valued at approximately $2,799,000. Finally, Flagship Pioneering Inc. grew its stake in Syros Pharmaceuticals by 30.2% in the fourth quarter. Flagship Pioneering Inc. now owns 1,293,848 shares of the company's stock valued at $10,079,000 after purchasing an additional 300,000 shares in the last quarter. Institutional investors and hedge funds own 91.47% of the company's stock.

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.