H.C. Wainwright has downgraded Syros Pharmaceuticals (NASDAQ:SYRS) to neutral from buy, citing Tuesday’s announcement that a Phase 3 study of the company’s drug tamibarotene had failed to meet its primary endpoint.

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,