Syros Pharmaceuticals Stock: 3 Reasons Why SYRS Is a Top Choice for Momentum Investors

Many investors like to look for momentum in stocks, but this can be very tough to define. There is great debate regarding which metrics are the best to focus on in this regard, and which are not really quality indicators of future performance. Fortunately, with our new style score system we have identified the key statistics to pay close attention to and thus which stocks might be the best for momentum investors in the near term.

This method discovered several great candidates for momentum-oriented investors, but today let’s focus in on Syros Pharmaceuticals, Inc. SYRS as this stock is looking especially impressive right now. And while there are numerous ways in which this company could be a great choice, we have highlighted three of the most vital reasons for SYRS’ status as a solid momentum stock below:

Short Term Price Change for Syros Pharmaceuticals

A great place to look for finding momentum stocks is by inspecting short term price activity. This can help to reflect the current interest in a stock and if buyers or sellers have the upper hand right now. It is especially useful to compare it to the industry as this can help investors pinpoint the top companies in a particular area.

With a one week price change of 11.9% compared to an industry average of a loss of 1.2%, SYRS is certainly well-positioned in this regard. The stock is also looking quite well from a longer time frame too, as the four week price change compares favorably with the industry at large as well.

Quarter EPS Estimate Change for Syros Pharmaceuticals Stock

While looking at price performance or full year earnings can be essential to understanding a momentum stock, you shouldn’t forget about the current quarter EPS and the trend in estimates there. This change can signal how a stock might perform in the next earnings season which is obviously vital for momentum investors.

Right now, SYRS is seeing a nice trend over the past month when it comes to this quarter’s earnings estimate projections. In the time frame, EPS estimates for Syros Pharmaceuticals have gone up by 7.6% compared to an industry average move of break even, suggesting that not only is SYRS heading in the right direction, but it is seeing an increase relative to the industry too.

SYRS Earnings Estimate Revisions Moving in the Right Direction

While the great momentum factors outlined in the preceding paragraphs might be enough for some investors, we should also take into account broad earnings estimate revision trends. A nice path here can really help to show us a promising stock, and we have actually been seeing that with SYRS as of late too.

Over the past two months, one earnings estimate has gone higher compared to none lower for the full year, while we are also seeing that one estimate has moved upward with no downward revision for the next year time frame too.  These revisions have helped to boost the consensus estimate as two months ago SYRS was expected to post a loss of $2.57/share for the full year, though today it looks to have a loss of $2.47 per share for the full year now, representing a solid increase which is something that should definitely be welcomed news to would-be investors.

Syros Pharmaceuticals, Inc. Price and Consensus

Syros Pharmaceuticals, Inc. Price and Consensus | Syros Pharmaceuticals, Inc. Quote

Bottom Line

Given these factors, investors shouldn’t be surprised to note that we have SYRS as a security with a Zacks Rank #2 (Buy) and a Momentum Score of ‘A’. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

So if you are looking for a fresh pick that has potential to move in the right direction, definitely keep SYRS on your short list as this looks be a stock that is very well-positioned to soar in the near term.

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging
phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020. Click here for the 6 trades >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Syros Pharmaceuticals, Inc. (SYRS): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research