Jason Zemansky, an analyst from Bank of America Securities, reiterated the Buy rating on Syndax Pharmaceuticals (SNDX – Research Report). The associated price target remains the same with $25.00.
Jason Zemansky’s rating is based on Syndax Pharmaceuticals’ promising outlook, particularly with the launch of Revuforj, which has shown encouraging initial sales despite being early in its commercial journey. The company’s first-mover advantage in the market, coupled with positive insights on access and adoption, contributes to a favorable risk/reward profile for the stock.
Additionally, Syndax’s strategy to expand into first-line acute leukemia treatment and the potential for leveraging its position in the R/R NPM1m cohort further supports the Buy rating. While there are uncertainties regarding the broader opportunity, particularly in R/R KMT2Ar AML, the company’s strategic positioning and potential downside protection from axatilimab provide a solid foundation for future growth.
In another report released today, Barclays also maintained a Buy rating on the stock with a $33.00 price target.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNDX in relation to earlier this year.