Stifel Nicolaus analyst Stephen Willey has maintained their bullish stance on SNDX stock, giving a Buy rating on September 17.
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Stephen Willey has given his Buy rating due to a combination of factors that highlight Syndax Pharmaceuticals’ strategic positioning in the competitive landscape of leukemia treatments. The inclusion of Revuforj in the NCCN guidelines for R/R NPM1m AML, with a high recommendation category, is a significant milestone that enhances its pre-approval standing. This development is timely, as it positions Syndax to establish a strong foothold before the anticipated launch of a competing drug by KURA.
Furthermore, Willey notes that Syndax’s strategic efforts in achieving near-complete formulary coverage and increasing institutional familiarity with Revuforj at key AML centers provide a competitive edge. The company’s ability to translate its success in R/R AML into the frontline setting is seen as a critical factor for long-term value creation. The anticipated presentations of clinical evidence and trial data are expected to reinforce the importance of Revuforj in maintenance therapy and improve its visibility in frontline treatments, thereby supporting the Buy rating.
In another report released on September 17, Barclays also maintained a Buy rating on the stock with a $19.00 price target.
Based on the recent corporate insider activity of 27 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.