Corinne Johnson, an analyst from Goldman Sachs, has initiated a new Buy rating on Syndax Pharmaceuticals (SNDX).
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Corinne Johnson’s rating is based on the promising potential of Syndax Pharmaceuticals’ lead drug, Revuforj, which is currently approved for treating relapsed/refractory acute myeloid leukemia (AML) with specific genetic markers. The drug is also under regulatory review for additional AML indications, with a decision expected by October 2025. Johnson anticipates significant revenue growth from these opportunities, estimating peak sales at $1.1 billion, excluding potential expansion into frontline treatment settings.
Additionally, Syndax has a lucrative partnership for Niktimvo, a drug for chronic Graft-versus-Host Disease and Idiopathic Pulmonary Fibrosis, which offers substantial economic benefits. This partnership includes shared commercialization rights in the U.S. and royalties from international sales, potentially yielding $180 million in peak revenue from cGvHD alone. The ongoing AML launch is a key factor in the investment thesis, supported by revenue estimates that exceed consensus expectations.
In another report released on June 24, BTIG also reiterated a Buy rating on the stock with a $43.00 price target.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SNDX in relation to earlier this year.