Another stock to watch-- This came on my screen earlier this week for the short size against it.//
Syros Pharmaceuticals (SYRS)
Yet another biopharmaceutical enterprise with the possibility of delivering game-changing therapeutics,
Syros Pharmaceuticals(NASDAQ:
SYRS) specializes in leveraging gene expression. As its website points out, the wrong genes being expressed at the wrong time or in the wrong amounts can lead to disease. However, Syros identified cancer patients with aberrant gene expression that can be targeted with new therapies.
It’s one of the more promising ideas among speculative penny stocks with potential. However, investors aren’t exactly confident about the underlying enterprise. Since the beginning of the year,
SYRS dropped more than 22% of equity value. It’s also a risking classification as a nano-cap play with a market value of only $58 million. Drop $8 million and it becomes a nano cap.
Naturally, bears feel relatively confident in shorting SYRS but that could change. Right now, it takes
roughly eight days to cover all shorts based on average trading volume. Also, Fintel identifies SYRS as one of the top 500 most-shorted securities, heightening risk for the pessimists.
Finally, analysts rate SYRS a
unanimous strong buy with a $12.33 price target, projecting 348% growth. That easily makes it one of the penny stocks with upside potential.