Syros Pharmaceuticals (SYRS) Receives a Hold from H.C. Wainwright

By Jason Carr

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 $11.57.

Fein noted:

“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.”

According to TipRanks.com, Fein is a 3-star analyst with an average return of 2.3% and a 46.3% success rate. Fein covers the Healthcare sector, focusing on stocks such as Proteostasis Therapeutics Inc, Strongbridge Biopharma Plc, and Cyclacel Pharmaceuticals.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Syros Pharmaceuticals with a $18 average price target.

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Based on Syros Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $14.05 million. In comparison, last year the company had a GAAP net loss of $13.37 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.