In a report released today, Jotin Marango from Roth Capital maintained a Hold rating on Syros Pharmaceuticals (NASDAQ: SYRS), with a price target of $12. The company’s shares closed on Friday at $12.22.
Marango wrote:
“We are reducing our price target in line with the narrower optionality of SY-1425 in AML. Following what we viewed as underwhelming single agent activity presented at the last ASH, at this time only two combination cohorts of SY-1425 are ongoing: (a) combo with aza in front-line AML unfit for chemo; (b) combo with daratumumab (anti-CD38) in R/R AML or HR MDS. Previously, we were modeling the value of SY-1425 broadly within biomarker-positive AML, in line with the broad exploratory Phase 2 study. At this time, we are narrowing the commercial opportunity to cover only biomarker-positive newly-diagnosed patients unfit for chemo (in line with the ongoing HMA combo cohort). Meanwhile, we elect to stay in watchful waiting mode on the anti-CD38 combo approach in AML, which we view as highly exploratory.”
According to TipRanks.com, Marango is a 4-star analyst with an average return of 18.5% and a 47.2% success rate. Marango covers the Healthcare sector, focusing on stocks such as KalVista Pharmaceuticals Inc, Stemline Therapeutics Inc, and Actinium Pharmaceuticals.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Syros Pharmaceuticals with a $18 average price target, implying a 47.3% upside from current levels. In a report issued on August 8, H.C. Wainwright also maintained a Hold rating on the stock with a $10 price target.
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The company has a one-year high of $23.61 and a one-year low of $6.30. Currently, Syros Pharmaceuticals has an average volume of 196.8K.
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Syros Pharmaceuticals, Inc. engages in the development of novel gene control therapies for cancer and other diseases. It has developed a proprietary platform that is designed to systematically and efficiently analyze unexploited region of DNA in human disease tissue to identify and drug novel targets linked to genomically defined patient populations.
