Syndax price target raised to $17 from $16 at Scotiabank

Scotiabank raised the firm’s price target on Syndax (SNDX) to $17 from $16 and keeps a Sector Perform rating on the shares. The first full quarter of sales for Revuforj reflects a “strong launch” and “commercial appetite” for the menin inhibitor treatment of KMT2Ar relapsed/refractory leukemia, the analyst tells investors. Additionally, completion of a supplemental New Drug Application in the NPM-1 mutant treatment segment indicates a high likelihood of a label expansion before the end of the year, the firm adds. The firm, however, sees the coincident approval of Kura‘s (KURA) recently filed NDA for its menin inhibitor to set up for a competitive clash in the space.