Mizuho Securities analyst Salim Syed has maintained their bullish stance on SNDX stock, giving a Buy rating yesterday.
Salim Syed has given his Buy rating due to a combination of factors surrounding Syndax Pharmaceuticals’ recent developments and future prospects. The launch of Revuforj, a key product for the company, has shown promising initial revenue figures and has successfully penetrated significant Tier I and Tier II accounts. This indicates a strong market presence and potential for growth as more accounts are activated and prescriptions increase.
Furthermore, the company is actively working on expanding Revuforj’s indications, with plans to submit data for regulatory approval and initiate pivotal trials. These efforts, combined with a strategic focus on therapy prioritization and collaborations with institutions like the NIH, highlight Syndax’s commitment to innovation and growth. Additionally, the company’s financial guidance for 2025 suggests a disciplined approach to R&D and SG&A expenses, which are projected to be below consensus estimates, indicating efficient management. These elements collectively support Salim Syed’s positive outlook on the stock.
SNDX’s price has also changed moderately for the past six months – from $20.540 to $15.480, which is a -24.63% drop .