Domo signs strategic collaboration agreement with AWS for AI solutions
Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) stock has reached a 52-week low, dipping to $12.38, as the biopharmaceutical company faces a challenging market environment. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 6.99 and holds more cash than debt on its balance sheet. This latest price point reflects a significant downturn from the previous year, with the stock experiencing a 1-year change of -43.57%. While analysts maintain a strong buy consensus with price targets ranging from $16 to $51, investors are closely monitoring the company's performance. The stock's downward trend raises concerns about its future prospects amidst a competitive and ever-evolving pharmaceutical landscape. InvestingPro subscribers can access additional insights and detailed analysis through the comprehensive Pro Research Report, which provides deep-dive analysis of SNDX's financial health and growth prospects.
In other recent news, Syndax Pharmaceuticals has reported a series of significant developments. The company announced a robust Q3 2024 earnings report, including a $350 million royalty agreement with Royalty Pharma for Niktimvo, and reported $399.6 million in cash as of September 30, with Q3 operating expenses at $102.1 million. Syndax also disclosed positive results from the AUGMENT-101 trial for revumenib, a treatment for acute myeloid leukemia (AML), with a 23% complete response rate among evaluable adults.
In the realm of mergers and internal changes, Syndax Pharmaceuticals eliminated the role of Chief Medical (TASE:PMCN) Officer, as revealed in a recent SEC filing. Analyst firms have also made notable adjustments to their outlooks on Syndax. For instance, Jefferies maintained a Buy rating on Syndax with a $43 target, while Scotiabank (TSX:BNS) reduced its price target to $18 due to potential FDA approval risks for revumenib.
H.C. Wainwright increased Syndax's price target from $49.00 to $51.00 and maintained a Buy rating following the FDA approval of Revuforj. TD Cowen reiterated a Buy rating on the company's stock following the recent approval of Syndax's drug Revuforj for the treatment of R/R KMT2Am acute leukemias. These are among the recent developments in Syndax Pharmaceuticals' journey as it continues to navigate through clinical trials and financial milestones.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.