Todays Report: Today: Cann Begins Coverage on Syros Pharmaceuticals Inc. (SYRS)

Today: Cann Begins Coverage on Syros Pharmaceuticals Inc. (SYRS)

Equities researchers at Cann initiated coverage on shares of Syros Pharmaceuticals Inc. (NASDAQ:SYRS) in a research note issued to investors on Monday, The Fly reports. The brokerage set an “outperform” rating and a $28.00 price target on the stock. Cann’s price objective suggests a potential upside of 97.32% from the company’s current price.

A number of other research firms have also weighed in on SYRS. Piper Jaffray Cos. set a $20.00 target price on Syros Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, November 14th. Zacks Investment Research raised Syros Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, November 23rd. HC Wainwright reaffirmed a “hold” rating and set a $10.00 price target on shares of Syros Pharmaceuticals in a research report on Friday, September 9th. Finally, Wedbush reaffirmed an “outperform” rating and set a $18.00 price target on shares of Syros Pharmaceuticals in a research report on Monday, November 14th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $19.60.

Syros Pharmaceuticals (NASDAQ:SYRS) traded down 6.06% during trading on Monday, reaching $13.33. The company had a trading volume of 18,326 shares. The stock has a 50 day moving average price of $13.51 and a 200 day moving average price of $13.07. Syros Pharmaceuticals has a 52 week low of $8.16 and a 52 week high of $21.50. The firm’s market capitalization is $311.66 million.

Syros Pharmaceuticals (NASDAQ:SYRS) last posted its earnings results on Monday, November 14th. The company reported ($0.65) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by $0.11. Analysts predict that Syros Pharmaceuticals will post ($4.03) earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in SYRS. California State Teachers Retirement System purchased a new position in Syros Pharmaceuticals during the third quarter valued at about $137,000. Spark Investment Management LLC purchased a new position in Syros Pharmaceuticals during the third quarter valued at about $160,000. Hamilton Lane Advisors LLC purchased a new position in Syros Pharmaceuticals during the third quarter valued at about $193,000. Morgan Stanley purchased a new position in Syros Pharmaceuticals during the third quarter valued at about $469,000. Finally, Weiss Multi Strategy Advisers LLC purchased a new position in Syros Pharmaceuticals during the second quarter valued at about $832,000. 54.56% of the stock is currently owned by hedge funds and other institutional investors.

About Syros Pharmaceuticals

Syros Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on developing treatments for cancer and immune-mediated diseases. The Company’s gene control platform focuses on identifying gene control targets linked to genomically defined patient populations, and drugging gene control targets.

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