“Our price target of $10/share ($3.38 from tamibarotene + $2.35 from platform + $3.83 in cash) is based on a discounted cash flow analysis (2018-2027) using a 12% discount rate and 1% growth rate, in line with the expected discount and growth parameters of a development-stage oncology company. Risks to our investment thesis and target price include: (1) failure in clinical studies; (2) failure to secure regulatory approval; and (3) smaller than anticipated commercial opportunity due to market size, competition, and pricing.”,” the firm’s analyst wrote.
SYRS has been the subject of a number of other research reports. Cowen reissued a buy rating on shares of Syros Pharmaceuticals in a research report on Tuesday, July 17th. BidaskClub lowered shares of Syros Pharmaceuticals from a hold rating to a sell rating in a research report on Thursday, July 26th. Zacks Investment Research lowered shares of Syros Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, July 17th. Cann reaffirmed a buy rating and set a $26.00 price target on shares of Syros Pharmaceuticals in a research report on Tuesday, August 7th. Finally, ValuEngine raised shares of Syros Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, June 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $21.00.
Syros Pharmaceuticals (NASDAQ:SYRS) last posted its quarterly earnings data on Friday, August 10th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.07. The firm had revenue of $0.38 million during the quarter, compared to analyst estimates of $1.33 million. research analysts forecast that Syros Pharmaceuticals will post -1.87 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. Two Sigma Advisers LP acquired a new position in Syros Pharmaceuticals during the fourth quarter worth approximately $105,000. The Manufacturers Life Insurance Company increased its position in Syros Pharmaceuticals by 299.9% during the first quarter. The Manufacturers Life Insurance Company now owns 12,922 shares of the company’s stock worth $168,000 after purchasing an additional 9,691 shares during the last quarter. Citadel Advisors LLC acquired a new position in Syros Pharmaceuticals during the second quarter worth approximately $186,000. Two Sigma Investments LP increased its position in Syros Pharmaceuticals by 80.3% during the fourth quarter. Two Sigma Investments LP now owns 21,197 shares of the company’s stock worth $206,000 after purchasing an additional 9,439 shares during the last quarter. Finally, Rhumbline Advisers increased its position in Syros Pharmaceuticals by 87.6% during the second quarter. Rhumbline Advisers now owns 22,472 shares of the company’s stock worth $229,000 after purchasing an additional 10,494 shares during the last quarter. 57.07% of the stock is owned by hedge funds and other institutional investors.
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; and SY-1365, a selective CDK7 inhibitor, which is in a Phase I clinical trial that is used for treating patients with solid tumors and blood cancers, including ovarian cancer, breast cancer, and AML.
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