Halister News

(Bloomberg) -- Syros Pharma indicated $14-$14.50 pre-market vs $13.52 close after JMP analyst Michael King upgraded to market outperform from market perform, PT $33, on favorable entry point ahead of key data readouts.

• Says the recent selloff is overdone
  • NOTE: SYRS down 43% from record high on Aug. 7
• Sees SYRS having a first-mover advantage in the gene control area, especially in the exploitation of super- enhancers
• Says SYRS has the potential to produce medicines with sales potential of billions of dollars, similar to Pfizer’s Xtandi and J&J’s Zytiga
• Notes co. expects data from Phase 2 in acute myeloid leukemia and myelodysplastic syndrome in 4Q, and from Phase 1 in patients with advanced solid tumors next year
• Stock has 4 buys, 1 hold, no sells, avg PT $23: Bloomberg
• NOTE: Aug. 21, Syros Gets FDA Orphan Drug Designation for SY-1425
  • Aug. 10, Syros Pharmaceuticals Cut at JMP as Price Target is Achieved

To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Richard Richtmyer