Syros Pharmaceuticals (NASDAQ:SYRS) Raised to Buy at Zacks Investment Research
Syros Pharmaceuticals (NASDAQ:SYRS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage presently has a $13.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 24.28% 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. “
SYRS has been the topic of a number of other research reports. HC Wainwright upgraded Syros Pharmaceuticals from a “neutral” rating to a “buy” rating and lifted their target price for the company from $11.00 to $15.00 in a research report on Wednesday, November 4th. Brookline Capital Management initiated coverage on Syros Pharmaceuticals in a research note on Tuesday, November 10th. They set a “buy” rating and a $19.00 price target on the stock. Roth Capital lifted their price target on Syros Pharmaceuticals from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, October 26th. Finally, Oppenheimer initiated coverage on Syros Pharmaceuticals in a research note on Friday, November 6th. They set a “buy” rating and a $13.00 price target on the stock. Nine equities research analysts have rated the stock with a buy rating, Syros Pharmaceuticals presently has an average rating of “Buy” and a consensus price target of $17.00.
In related news, Director Richard A. Young sold 3,750 shares of Syros Pharmaceuticals stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $12.05, for a total value of $45,187.50. Following the transaction, the director now directly owns 321,711 shares of the company’s stock, valued at $3,876,617.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 14.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of SYRS. ARK Investment Management LLC lifted its stake in shares of Syros Pharmaceuticals by 31.7% in the third quarter. ARK Investment Management LLC now owns 11,212,506 shares of the company’s stock worth $99,119,000 after acquiring an additional 2,699,373 shares during the period. Orbimed Advisors LLC acquired a new position in shares of Syros Pharmaceuticals in the fourth quarter worth approximately $16,953,000. State Street Corp lifted its stake in shares of Syros Pharmaceuticals by 101.1% in the third quarter. State Street Corp now owns 1,699,482 shares of the company’s stock worth $15,023,000 after acquiring an additional 854,333 shares during the period. Samsara BioCapital LLC lifted its stake in shares of Syros Pharmaceuticals by 55.5% in the fourth quarter. Samsara BioCapital LLC now owns 2,189,199 shares of the company’s stock worth $21,837,000 after acquiring an additional 781,250 shares during the period. Finally, Artal Group S.A. lifted its stake in shares of Syros Pharmaceuticals by 61.1% in the fourth quarter. Artal Group S.A. now owns 750,000 shares of the company’s stock worth $8,138,000 after acquiring an additional 284,500 shares during the period.
About Syros Pharmaceuticals
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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