In a report released yesterday, Leah R. Cann from Oppenheimer maintained a Buy rating on Syros Pharmaceuticals (NASDAQ: SYRS), with a price target of $28. The company’s shares closed yesterday at $12.51.
Cann observed:
“Data presented in December 2017 supported development of SY-1365 in triple- negative breast cancer patients and we are encouraged to see the expansion of the phase I study in this setting. We currently do not estimate that SY-1365 will impact revenue by 2022, but believe it could be an important contributor after 2022. The potential addressable patient populations for SY-1365 are large, making SY-1365 very important to Syros. The company has previously reported it plans to open expansion cohorts in mid-2018 in this ongoing phase I trial, which now includes cohorts to further evaluate the safety and anti-tumor activity of SY-1365 as a single agent and in combination with standard-of-care therapies in multiple ovarian and breast cancer populations.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 16.9% and a 58.3% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
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.
