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Syros Pharmaceuticals (SYRS) Soars 22.2%: Is Further Upside Left in the Stock?
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Syros Pharmaceuticals, Inc. (SYRS - Free Report) shares rallied 22.2% in the last trading session to close at $5.50. 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 31.4% loss over the past four weeks.
The stock rallied after the FDA granted a Fast Track designation to the company’s lead pipeline candidate, tamibarotene, in combination with azacitidine and venetoclax for treating newly diagnosed acute myeloid leukemia with RARA gene overexpression in adult patients aged more than 75 years or who have comorbidities that preclude the use of intensive induction chemotherapy.
This company is expected to post quarterly loss of $0.89 per share in its upcoming report, which represents a year-over-year change of -4.7%. Revenues are expected to be $1.3 million, down 55.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Syros Pharmaceuticals, the consensus EPS estimate for the quarter has been revised 7.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates 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.
Syros Pharmaceuticals is part of the Zacks Medical - Biomedical and Genetics industry. TELA Bio, Inc. (TELA - Free Report) , another stock in the same industry, closed the last trading session 2.7% lower at $5.02. TELA has returned -6.5% in the past month.
For TELA Bio, the consensus EPS estimate for the upcoming report has changed -3.9% over the past month to -$0.48. This represents a change of +23.8% from what the company reported a year ago. TELA Bio currently has a Zacks Rank of #3 (Hold).
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Syros Pharmaceuticals (SYRS) Soars 22.2%: Is Further Upside Left in the Stock?
Syros Pharmaceuticals, Inc. (SYRS - Free Report) shares rallied 22.2% in the last trading session to close at $5.50. 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 31.4% loss over the past four weeks.
The stock rallied after the FDA granted a Fast Track designation to the company’s lead pipeline candidate, tamibarotene, in combination with azacitidine and venetoclax for treating newly diagnosed acute myeloid leukemia with RARA gene overexpression in adult patients aged more than 75 years or who have comorbidities that preclude the use of intensive induction chemotherapy.
This company is expected to post quarterly loss of $0.89 per share in its upcoming report, which represents a year-over-year change of -4.7%. Revenues are expected to be $1.3 million, down 55.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Syros Pharmaceuticals, the consensus EPS estimate for the quarter has been revised 7.6% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates 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 >>>>
Syros Pharmaceuticals is part of the Zacks Medical - Biomedical and Genetics industry. TELA Bio, Inc. (TELA - Free Report) , another stock in the same industry, closed the last trading session 2.7% lower at $5.02. TELA has returned -6.5% in the past month.
For TELA Bio, the consensus EPS estimate for the upcoming report has changed -3.9% over the past month to -$0.48. This represents a change of +23.8% from what the company reported a year ago. TELA Bio currently has a Zacks Rank of #3 (Hold).