Syndax price target raised to $56 from $43 at BTIG

BTIG analyst Justin Zelin raised the firm’s price target on Syndax (SNDX) to $56 from $43 and keeps a Buy rating on the shares. The company delivered strong Q2 results, with Revuforj and Niktimvo both posting breakout commercial performance that exceeded both internal and external expectations for the quarter and surpassed benchmarks set by precedent AML launches, the analyst tells investors in a research note. Syndax is on a clear path to profitability with both launches cash flow contributors, the firm added.