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Strength Seen in Syros Pharmaceuticals, Inc. (SYRS): Can Its 5.4% Jump Turn into More Strength?
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Syros Pharmaceuticals, Inc. (SYRS - Free Report) shares soared 5.4% in the last trading session to close at $5.11. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 35.1% gain over the past four weeks.
Share price has been rising consecutively since last week after Syros announced that the FDA has granted Fast Track designation to its most advanced pipeline candidate, tamibarotene, for the treatment of higher-risk myelodysplastic syndrome (HR-MDS).
This company is expected to post quarterly loss of $1.27 per share in its upcoming report, which represents a year-over-year change of +69.8%. Revenues are expected to be $3.28 million, down 58% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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.
Syros Pharmaceuticals, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Amicus Therapeutics (FOLD - Free Report) , finished the last trading session 2.3% higher at $13.04. FOLD has returned 4.4% over the past month.
Amicus Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.13. Compared to the company's year-ago EPS, this represents a change of +55.2%. Amicus Therapeutics currently boasts a Zacks Rank of #3 (Hold).
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Strength Seen in Syros Pharmaceuticals, Inc. (SYRS): Can Its 5.4% Jump Turn into More Strength?
Syros Pharmaceuticals, Inc. (SYRS - Free Report) shares soared 5.4% in the last trading session to close at $5.11. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 35.1% gain over the past four weeks.
Share price has been rising consecutively since last week after Syros announced that the FDA has granted Fast Track designation to its most advanced pipeline candidate, tamibarotene, for the treatment of higher-risk myelodysplastic syndrome (HR-MDS).
This company is expected to post quarterly loss of $1.27 per share in its upcoming report, which represents a year-over-year change of +69.8%. Revenues are expected to be $3.28 million, down 58% 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 remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. 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 >>>>
Syros Pharmaceuticals, Inc. is a member of the Zacks Medical - Biomedical and Genetics industry. One other stock in the same industry, Amicus Therapeutics (FOLD - Free Report) , finished the last trading session 2.3% higher at $13.04. FOLD has returned 4.4% over the past month.
Amicus Therapeutics' consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.13. Compared to the company's year-ago EPS, this represents a change of +55.2%. Amicus Therapeutics currently boasts a Zacks Rank of #3 (Hold).