Syros Pharmaceuticals, Inc. (SYRS) Stock Jumps 7.2%: Will It Continue to Soar?

Syros Pharmaceuticals, Inc. (SYRS) Stock Jumps 7.2%: Will It Continue to Soar?

Syros Pharmaceuticals, Inc. SYRS shares rallied 7.2% in the last trading session to close at $9.18. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock’s 21.5% loss over the past four weeks.

Shares gained as investors continue to be encouraged with the company’s efforts to develop its pipeline. Syros moved its lead program into its first registration-enabling study and continue to advance its other clinical-stage programs for patients with hematological malignancies and solid tumors.

Price and Consensus

Price Consensus Chart for SYRS

This company is expected to post quarterly loss of $0.55 per share in its upcoming report, which represents a year-over-year change of -41%. Revenues are expected to be $3.05 million, up 28.2% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Syros Pharmaceuticals, Inc., the consensus EPS estimate for the quarter has been revised 8.4% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn’t usually translate into price appreciation. So, make sure to keep an eye on SYRS going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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