Jefferies analyst Kelly Shi has maintained their bullish stance on SNDX stock, giving a Buy rating on May 23.
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Kelly Shi has given his Buy rating due to a combination of factors including Syndax Pharmaceuticals’ promising outlook for 2025, which is anticipated to be a pivotal year for the company. The management has highlighted the launch of two first-in-class commercial products, which are expected to significantly impact the market. The company has made strides with its product Revuforj, noting a substantial increase in formulary coverage and market penetration, with expectations of further growth.
Additionally, Syndax Pharmaceuticals is advancing its development pipeline with ongoing trials and anticipated data updates, which could further enhance its market position. The management’s strategic plans for expanding the use of Revuforj and exploring opportunities in GvHD with Niktimvo are also noteworthy. These factors, combined with a consistent safety profile and potential first-to-market advantages, underpin the positive outlook and Buy rating from Kelly Shi.
In another report released on May 23, J.P. Morgan also maintained a Buy rating on the stock with a $39.00 price target.
Based on the recent corporate insider activity of 21 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.