Syndax Pharmaceuticals (NASDAQ:) stock hit a 52-week low, falling to $12.75, as the company faces a challenging market environment. according to InvestingPro Technical data indicates that the stock is in oversold territory, with a market cap of $1.1 billion. This latest price level reflects a significant pullback over the past year, with the stock seeing a one-year change of -40.79%. Investors are closely watching the biopharmaceutical company, known for its work in cancer treatments, as it goes through a period of volatility and investor skepticism. While the company maintains a strong financial position with cash flow greater than debt and a good current ratio of 7 times, InvestingPro The analysis reveals additional insights through its comprehensive research reports covering more than 1,400 US stocks. The 52-week low is a critical point of interest for potential buyers looking for undervalued opportunities, while existing shareholders ponder the company's long-term prospects amid current healthcare sector trends. Analysts' price targets range from $18 to $51, indicating significant potential upside, although the company faces challenges with weak gross margins and negative earnings expected for next year.
In other recent news, Syndax Pharmaceuticals has announced various developments. The company eliminated the role of president medical (TASE:) The officer and Dr. Catherine Madigan, who held the position, have left. In addition, Syndax Revuforj has received approval for the treatment of R/R KMT2Am acute leukemia. This approval led TD Cowen to reiterate a Buy rating on the company's shares.
HC Wainwright also increased its price target on Syndax from $49.00 to $51.00, while maintaining a Buy rating following FDA approval of Revuforj. but, Scotiabank (TSX:) lowered its price target for Syndax to $18 due to potential risks of FDA approval of revumenib, while Goldman Sachs cut its price target from $33 to $31, while maintaining a Buy rating on concerns about QTc prolongation and differentiation syndrome in AUGMENT. – 101 trials.
On the financial front, Syndax announced a $350 million royalty agreement with Royalty Pharma for Niktimvo during its third-quarter 2024 earnings call, reporting $399.6 million in cash as of September 30, with third-quarter operating expenses of $102.1 million. These are the latest developments in Syndax Pharmaceuticals' journey as it continues to navigate through clinical trials and financial milestones.
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