Syndax price target raised to $42 from $40 at Stifel

Stifel raised the firm’s price target on Syndax to $42 from $40 and keeps a Buy rating on the shares. Revumenib for the treatment of R/R KMT2Ar leukemia has a Priority Review PDUFA for September 26, but the firm’s review of Real-Time Oncology Review precedents suggests an early approval should be expected given that the majority of RTOR approvals were at least one month early, with several 3-4 months early, the analyst tells investors. July and August are “in play” and revumenib’s first-mover advantage and ability to own share of voice in the AML market is critical given the competition from clinical-stage menin inhibitors, the analyst added.