Syros downgraded to Market Perform from Outperform at JMP Securities

JMP Securities analyst Jason Butler downgraded Syros Pharmaceuticals (SYRS) to Market Perform from Outperform without a price target The firm cites the “disappointing results” from the Phase 3 SELECT-MDS-1 trial evaluating tamibarotene in combination with azacitidine in higher-risk myelodysplastic syndrome patients for the downgrade. Management reported the company intends to stop the clinical study and evaluate next steps, the analyst tells investors in a research note.