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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.

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Read More on SYRS:

• Syros downgraded to Market Perform from Outperform at JMP Securities

• Syros Pharmaceuticals downgraded to Hold from Buy at Brookline

• Syros Pharmaceuticals trading resumes

• Syros Pharmaceuticals says SELECT-MDS-1 trial did not meet primary endpoint

• Syros Pharmaceuticals trading halted, news pending