Syndax Pharmaceuticals (SNDX – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Jason Zemansky from Bank of America Securities reiterated a Buy rating on the stock and has a $26.00 price target.
Jason Zemansky has given his Buy rating due to a combination of factors that highlight the promising outlook for Syndax Pharmaceuticals. The company’s recent quarterly update showed strong sales performance, particularly for Revuforj, which exceeded expectations in its first full quarter. This success, alongside positive management feedback, suggests a solid foundation for future growth as the drug’s use expands into a larger patient population.
Additionally, Syndax’s strategic submission of a supplemental new drug application (sNDA) for Revuforj under the Real-Time Oncology Review program indicates a proactive approach to securing a competitive position in the market. Although the long-term outlook for Niktimvo remains uncertain, its initial sales figures are encouraging. With the stock trading below its potential value, Zemansky sees significant upside potential, justifying the Buy rating and an increased price objective of $26.
Zemansky covers the Healthcare sector, focusing on stocks such as Cytokinetics, Insmed, and BridgeBio Pharma. According to TipRanks, Zemansky has an average return of 9.9% and a 52.17% success rate on recommended stocks.