Syros Pharmaceuticals price target lowered to $20 from $27 at Piper Sandler

Piper Sandler analyst Edward Tenthoff lowered the firm’s price target on Syros Pharmaceuticals to $20 from $27 and keeps an Overweight rating on the shares. The target drop reflects higher discount rates given current market conditions and rolling forward the discount period to 2023, Tenthoff tells investors in a research note. The analyst adds that Syros shares are trading below cash.