In a report released today, Andrew Fein from H.C. Wainwright reiterated a Buy rating on Syros Pharmaceuticals (SYRS – Research Report), with a price target of $15.00.
Andrew Fein’s rating is based on a combination of factors involving Syros Pharmaceuticals’ clinical trial progress and regulatory milestones. The company’s Phase 3 SELECT-MDS-1 study for myelodysplastic syndromes (MDS) passed an interim futility analysis, which indicated that the treatment under investigation could be more effective than the current standard, azacytidine. Additionally, the study’s inclusion of overall survival as a secondary endpoint could potentially reduce the need for further trials, suggesting a streamlined path to full approval and market delivery. The selection of biomarkers in the trial design also presents a methodological advantage that could translate to higher efficacy in treatment outcomes. These promising aspects of the study, along with the trial proceeding as advised by the Independent Data Monitoring Committee without modifications, contribute to the optimistic outlook.
Beyond the SELECT-MDS-1 study, the SELECT-AML-1 trial also provides grounds for a positive assessment, with the FDA granting Fast Track Designation to the tamibarotene treatment for patients with acute myeloid leukemia (AML) exhibiting RARA overexpression. The combination treatment involving tamibarotene has shown significant efficacy, with a notably high complete response rate in a recent update. The expedited regulatory designations and the impressive clinical data reported from the ongoing studies provide a solid foundation for anticipating strong future performance of Syros Pharmaceuticals in the market, hence reinforcing the Buy rating and the prospective valuation.
Fein covers the Healthcare sector, focusing on stocks such as Amylyx Pharmaceuticals Inc, Blueprint Medicines, and Foghorn Therapeutics. According to TipRanks, Fein has an average return of 12.8% and a 49.09% success rate on recommended stocks.
In another report released today, JMP Securities also reiterated a Buy rating on the stock with a $12.00 price target.
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Syros Pharmaceuticals (SYRS) Company Description:
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 analyse unexploited region of DNA in human disease tissue to identify and drug novel targets linked to genomically defined patient populations. The firm focuses on developing treatments for cancer and immune mediated diseases and is building a pipeline of gene control medicines. The company was founded by Richard A. Young, Nathanael S. Gray and James E. Bradner on November 9, 2011 and is headquartered in Cambridge, MA.
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