Syros Pharmaceuticals price target lowered to $16 from $20 at Piper Sandler

Piper Sandler analyst Edward Tenthoff lowered the firm’s price target on Syros Pharmaceuticals to $16 from $20 and keeps an Overweight rating on the shares. The analyst said Syros now anticipates completing enrollment of roughly 190 newly diagnosed, higher-risk MDS patients in the Phase III SELECT-MDS trial in 4Q23 with data in 3Q24. Tenthoff said he lowered his price target by pushing out tamibarotene approval based on new SELECT-MDS data guidance.