Goldman Sachs initiated coverage of Syndax Pharmaceuticals with a Buy rating and $30 price target, implying 137% share upside. At current price levels and following supportive topline data readouts from registration-stage programs revumenib and axatilimab, Syndax is a “unique opportunity” in smid-cap biotech that has the potential to launch two commercial assets in 2024, the analyst tells investors in a research note. The firm sees a compelling risk/reward at current share levels.
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