Syros Pharmaceuticals price target lowered to $7 from $11 at Piper Sandler

Piper Sandler analyst Edward Tenthoff lowered the firm’s price target on Syros Pharmaceuticals to $7 from $11 and keeps an Overweight rating on the shares. The firm notes Syros is discontinuing SY-2101 for the treatment of APL in order to focus resources on tamibarotene. Syros will report initial Phase II SELECT-AML data on tamibarotene + ven/aza in newly-diagnosed unfit RARalpha+ AML patients in 4Q 2023 with more data next year.