TD Cowen analyst Phil Nadeau has maintained their bullish stance on SNDX stock, giving a Buy rating on July 30.
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Phil Nadeau has given his Buy rating due to a combination of factors that highlight Syndax Pharmaceuticals’ strong performance and growth potential. The company reported impressive Q2 revenue figures for its drug Revuforj, surpassing both internal and consensus estimates. This indicates robust demand and successful market penetration, particularly in the treatment of relapsed/refractory KMT2A acute leukemias. Additionally, the management’s expectation of increased patient reach and extended therapy duration suggests continued revenue growth.
Moreover, Syndax’s other drug, Nikimvo, also exceeded sales expectations, contributing significantly to the company’s profitability. The upcoming PDUFA date for Revuforj’s label expansion into the NPM1m AML population further strengthens its market position. The potential inclusion in NCCN guidelines could enhance its adoption even before formal approval, providing a competitive edge. These factors collectively make Syndax Pharmaceuticals a compelling investment opportunity, justifying the Buy rating.
In another report released on July 30, Barclays also maintained a Buy rating on the stock with a $19.00 price target.
Based on the recent corporate insider activity of 22 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.