JPMorgan analyst Anupam Rama added Syndax to the firm’s Analyst Focus List as a growth idea while keeping an Overweight rating on the shares with a $34 price target. At current valuation levels, Syndax shares have the potential to “grind up” to the low-$30s per share range on multiple approvals and a high probability of success in the pivotal study of revumenib, the analyst tells investors in a research note. The firm sees a favorable reward/risk profile heading into the company’s second half of 2024 regulatory and clinical updates.
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