Analyst Andres Y. Maldonado from H.C. Wainwright reiterated a Buy rating on Syndax Pharmaceuticals and keeping the price target at $40.00.
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Andres Y. Maldonado has given his Buy rating due to a combination of factors that highlight Syndax Pharmaceuticals’ strategic advancements and potential for sustained growth. The company has demonstrated a significant evolution into a multi-product commercial oncology franchise, with increasing visibility towards profitability. This is supported by strong revenue performance, particularly from Revuforj and Niktimvo, which have shown promising adoption and revenue streams that suggest long-term durability.
Revuforj’s approval for relapsed or refractory NPM1 mutated AML has expanded its market reach, positioning Syndax as a leader in menin inhibition. The increase in the addressable patient population significantly accelerates Revuforj’s potential as a foundational treatment in AML. Additionally, the market appears to undervalue the revenue potential during the maintenance phase, which is expected to contribute to operating leverage as the patient base grows. These factors collectively reinforce the Buy rating and the $40 price target set by Maldonado.
In another report released yesterday, Barclays also maintained a Buy rating on the stock with a $22.00 price target.