Syndax Pharmaceuticals Inc (NASDAQ: SNDX) received a Buy rating and a $30 price target from H.C. Wainwright analyst Edward White today. The company’s shares closed yesterday at $7.10, close to its 52-week low of $6.61.
White said:
“Valuation: We base our $30 price target on probability-adjusted revenue forecasts for entinostat in combination with other drugs in advanced HR+, HER2- breast cancer, NSCLC, and metastatic melanoma. We use the net present value of our revenue forecast through 2027, apply a 35% POS for HR+, HER2- breast cancer, and 10% POS for NSCLC and melanoma, with a 3x price/sales multiple, and we value the early stage pipeline at $10 million, the amount of the upfront payments the company made to acquire the menin inhibitors and SNDX-6352, to arrive at our price target.”
According to TipRanks.com, White is a top 100 analyst with an average return of 28.2% and a 58.5% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Synthetic Biologics Inc, and Karyopharm Therapeutics.
Syndax Pharmaceuticals Inc has an analyst consensus of Strong Buy, with a price target consensus of $31.
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The company has a one-year high of $15.20 and a one-year low of $6.61. Currently, Syndax Pharmaceuticals Inc has an average volume of 310.4K.
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Syndax Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in the development of cancer therapies. Its products include candidate and entinostat. The company was founded by Richard A. Heyman, Eckard Weber, Peter Ordentlich, Ronald M. Evans and Michael Downes on October 11, 2005 and is headquartered in Waltham, MA.
