Syros Pharmaceuticals Receives a Hold from H.C. Wainwright

By Austin Angelo

H.C. Wainwright analyst Andrew Fein maintained a Hold rating on Syros Pharmaceuticals (NASDAQ: SYRS) today and set a price target of $10. The company’s shares closed yesterday at $12.77.

Fein said:

“We point out that in preclinical studies, responses were observed in 59% (10/17) of PDX models tested, which would represent significant improvement over current therapies if this response rate translates into the clinics; (2) in combination with carboplatin in relapsed ovarian cancer with prior platinum-based therapy, who are still sensitive to platinum therapy (platinum-free interval of more than six months, n=24). In general, platinum-sensitive patients are more likely to respond to retreatment with a chemotherapy regiment that contains a platinum agent (e.g., carboplatin, cisplatin).”

According to TipRanks.com, Fein is a 4-star analyst with an average return of 7.4% and a 52.0% success rate. Fein covers the Healthcare sector, focusing on stocks such as DBV Technologies SA – American, ACADIA Pharmaceuticals Inc, and Strongbridge Biopharma Plc.

Syros Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $19.

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Based on Syros Pharmaceuticals’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $14.46 million. In comparison, last year the company had a GAAP net loss of $11.52 million.

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Syros Pharmaceuticals, Inc. engages in the development of novel gene control therapies for cancer and other diseases. It has developed a proprietary platform that is designed to systematically and efficiently analyze unexploited region of DNA in human disease tissue to identify and drug novel targets linked to genomically defined patient populations.