UPDATE: Goldman Sachs Starts Syndax Pharmaceuticals (SNDX) at Buy

(Updated - February 14, 2022 4:32 PM EST)

Goldman Sachs analyst Madhu Kumar initiates coverage on Syndax Pharmaceuticals (NASDAQ: SNDX) with a Buy rating and a price target of $37.00.

The analyst comments "We initiate coverage on SNDX with a Buy rating and a 12-month price target of $37 on its two lead assets, SNDX-5613 in acute leukemias (2035 peak risk-adjusted sales of $724M) and axatilimab in cGVHD (2035 peak risk-adjusted sales of $411M), in ongoing pivotal trials, additional lead asset trials supporting a potential market expansion opportunity, and a strategic partnership with INCY in cGVHD and IPF. In particular, we see potential for considerable value to be unlocked from SNDX's late-stage clinical programs, which have top-line data expected in 2023 for both SNDX-5613 in acute leukemias and axatilimab in cGVHD, with additional pipeline value to follow to support meaningful long-term upside."

For an analyst ratings summary and ratings history on Syndax Pharmaceuticals click here. For more ratings news on Syndax Pharmaceuticals click here.

Shares of Syndax Pharmaceuticals closed at $14.98 yesterday.

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