Syndax price target raised to $34 from $28 at Goldman Sachs

Goldman Sachs analyst Corinne Johnson raised the firm’s price target on Syndax (SNDX) to $34 from $28 and keeps a Buy rating on the shares. Ahead of Syndax’s Phase 2 data for axatilimab in idiopathic pulmonary fibrosis expected in 4Q26, peak sales estimates have been increased by $325M on a risk-adjusted basis, reflecting growing focus on the program, the analyst tells investors in a research note. While Revuforj in relapsed/refractory leukemias remains central to the story, early launch metrics in KMT2A- and NPM1-mutated AML appear strong, and the mechanistic rationale for CSF-1R inhibition in IPF supports confidence in the program’s potential path to Phase 3 success, the firm says.