Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Up 9.7% - Still a Buy?

Key Points

• Strong commercial momentum: Third-quarter revenue surged 82% year over year to $83.3 million, driven by Revuforj and Niktimvo growth, exceeding analyst expectations.
• Analysts remain bullish, but catalysts and risks remain: Ten of 11 analysts rate SNDX a Buy, with an average price target near $41.60, while upcoming revumenib data and higher Niktimvo margins could support the stock. However, the company missed on EPS, remains unprofitable, and faces pipeline setbacks and valuation concerns.
• Shares rallied sharply: SNDX rose 9.7% to $14.37 during Tuesday trading, though it remained below its 50-day and 200-day moving averages of $17.05 and $20.21, respectively.

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) was up 9.7% during mid-day trading on Tuesday. The company traded as high as $14.43 and last traded at $14.37. 1,495,421 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 1,725,033 shares. The stock had previously closed at $13.10.

Syndax Pharmaceuticals News Roundup

Here are the key news stories impacting Syndax Pharmaceuticals this week:

• Positive Sentiment: Strong commercial growth: Third-quarter revenue rose 82% year over year to $83.3 million, exceeding expectations. Revuforj revenue increased 90% to $60.7 million, supported by 20% sequential growth in new patients, while Niktimvo generated $67.4 million in net revenue and $22.6 million in collaboration revenue. Syndax Reports Third Quarter 2026 Financial Results and Provides Business Update
• Positive Sentiment: Potential catalysts ahead: Syndax expects additional revumenib clinical-trial and real-world data in the fourth quarter, covering multiple acute leukemia subtypes and treatment settings. Management also highlighted a higher Niktimvo margin outlook, which could improve the commercial story. Syndax Misses On EPS But Revuforj Rebound And Higher Niktimvo Margin Guide Sharpen The Commercial Story
• Positive Sentiment: External validation: Revuforj’s award win has strengthened investor enthusiasm around the drug’s commercial and competitive positioning. Brokerages maintain a consensus price target of $41.80, substantially above the current trading level. Syndax Consensus Price Target
• Neutral Sentiment: CFO transition: Aaron A. Ondrey will become CFO on November 9. Current CFO Keith Goldan is retiring but will remain through year-end to support an orderly transition, reducing the risk of an immediate disruption. Syndax Announces CFO Transition
• Negative Sentiment: Profitability remains pressured: Syndax reported a third-quarter loss of $0.55 per share, missing consensus estimates near $0.49–$0.52, although the loss improved from $0.70 a year earlier. Analysts continue to expect a full-year loss, and commentary cited pipeline setbacks that could limit the stock’s upside.
• Negative Sentiment: Valuation risk: One analysis argues that SNDX may already be richly valued after the Revuforj award, suggesting that strong execution and upcoming data may be needed to justify further gains. Syndax Stock May Be Rich After Revuforj Award Win

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. HC Wainwright dropped their price objective on shares of Syndax Pharmaceuticals from $38.00 to $36.00 and set a "buy" rating for the company in a report on Tuesday. Bank of America reiterated a "buy" rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. UBS Group reissued a "buy" rating on shares of Syndax Pharmaceuticals in a research note on Thursday, October 1st. JPMorgan Chase & Co. cut their price target on Syndax Pharmaceuticals from $44.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and issued a $35.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, September 29th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Syndax Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $41.60.

Syndax Pharmaceuticals Price Performance

The company has a debt-to-equity ratio of 38.95, a quick ratio of 6.44 and a current ratio of 6.77. The company has a market capitalization of $1.27 billion, a P/E ratio of -5.71 and a beta of 0.42. The firm's fifty day moving average is $17.05 and its 200 day moving average is $20.21.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its earnings results on Monday, November 2nd. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.49) by ($0.06). Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. The business had revenue of $83.30 million for the quarter, compared to the consensus estimate of $81.80 million. During the same period in the prior year, the company posted ($0.70) EPS. The company's quarterly revenue was up 81.9% compared to the same quarter last year. As a group, analysts predict that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, Director Dennis Podlesak sold 8,000 shares of the stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $14.21, for a total value of $113,680.00. Following the sale, the director owned 239,763 shares in the company, valued at $3,407,032.23. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.80% of the stock is owned by company insiders.

Institutional Trading of Syndax Pharmaceuticals

Large investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Syndax Pharmaceuticals in the second quarter worth about $197,177,000. Bank of America Corp DE purchased a new position in Syndax Pharmaceuticals during the 2nd quarter valued at about $88,426,000. Elmind Capital LP purchased a new position in Syndax Pharmaceuticals during the 2nd quarter valued at about $40,550,300. Trails Edge Capital Partners LP bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $24,264,600. Finally, Algert Global LLC raised its holdings in shares of Syndax Pharmaceuticals by 13.2% in the 2nd quarter. Algert Global LLC now owns 1,051,465 shares of the company's stock valued at $22,985,000 after purchasing an additional 122,897 shares in the last quarter.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc NASDAQ: SNDX is a biopharmaceutical company focused on developing and commercializing therapies for cancer and immune-related diseases. Founded in 2005 and headquartered in Waltham, Massachusetts, the company develops medicines designed to address genetically defined cancers and serious complications associated with cancer treatment.

Syndax's lead product is Revuforj (revumenib), an oral menin inhibitor approved in the United States for the treatment of relapsed or refractory acute leukemia with a KMT2A translocation in eligible adults and children.

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