Syros Pharmaceuticals downgraded to Neutral from Buy at H.C. Wainwright

H.C. Wainwright downgraded Syros Pharmaceuticals (SYRS) to Neutral from Buy with a price target of $1, down from $6, after the company announced that the Phase 3 SELECTMDS-1 trial, which evaluated tamibarotene combined with azacitidine for newly diagnosed, higher-risk myelodysplastic syndrome patients with RARA gene overexpression, did not achieve its primary endpoint. The firm removed tamibarotene from its valuation and downgraded the shares.