D-Wave Quantum falls nearly 3% as earnings miss overshadows revenue beat
Investing.com - Goldman Sachs raised its price target on Syndax Pharmaceuticals (NASDAQ:SNDX) to $20.00 from $18.00 on Tuesday, while maintaining a Buy rating on the stock. With analyst targets ranging from $17 to $46, and the stock currently trading at $10.38, InvestingPro analysis suggests the company may be undervalued despite its recent strong monthly performance.
The firm cited strong performance of Revuforj, which reported $28.6 million in revenue, exceeding consensus estimates of $23.9 million. Goldman Sachs views these results as an important first step toward realizing meaningful sales in acute leukemias indications. According to InvestingPro data, the company maintains a healthy financial position with a current ratio of 5.8 and more cash than debt on its balance sheet.
Syndax’s second product, Niktimvo, generated $36 million in revenues as reported by partner Incyte, with $9.4 million in collaboration revenue flowing to Syndax. The product reached profitability in its second quarter of launch.
Goldman Sachs noted that Revuforj’s opportunity in relapsed/refractory acute leukemias remains the core debate driver for Syndax, with a PDUFA date of October 25, 2025, for its anticipated launch in NPM1.
The company has provided guidance for 2025 of $370 million to $390 million in R&A plus SG&A expenses, excluding non-cash stock compensation, as it progresses toward profitability with expected product revenue growth and a stable expense base.
In other recent news, Syndax Pharmaceuticals reported its second-quarter 2025 earnings, showcasing a narrower-than-expected loss per share and surpassing revenue forecasts. The company posted an earnings per share (EPS) of -$0.83, which exceeded the forecast of -$1.01, resulting in a positive surprise of 17.82%. Additionally, Syndax Pharmaceuticals achieved revenue of $37.96 million, significantly higher than the anticipated $27.13 million, marking a surprise percentage of 39.92%. These results were well-received by investors.
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