Syndax Pharmaceuticals (SNDX): Evaluating Valuation After FDA Approval and NCCN Guideline Boost

Syndax Pharmaceuticals (SNDX) is in the spotlight following a series of positive events, including expanded FDA approval for Revvvi Forge in relapse-refractory NPM1-mutated AML and inclusion in the NCCN guidelines. These developments could strengthen the company’s position with investors and in the broader treatment landscape.

See our latest analysis for Syndax Pharmaceuticals.

After riding a wave of positive FDA and guideline news, Syndax’s share price has soared 39.56% in the past month and is now up 35.8% year-to-date, significantly outpacing the broader biotech space. Even when accounting for a recent dip, this strong momentum reflects the market’s growing confidence in Syndax’s expanding portfolio and management’s execution. However, its total return over the past year is 15.04%, and longer-term holders have yet to fully recoup past losses.

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With shares surging and analysts raising their price targets, investors may wonder if Syndax is still undervalued given its growth story or if the market has already factored in all of its future gains.

Most Popular Narrative: 50.1% Undervalued

The latest narrative suggests Syndax’s fair value is $38.31, nearly double the last close of $19.12. This wide gap is anchored in multi-year growth expectations, but does the narrative’s reasoning hold up under scrutiny?

Late-stage pipeline advancements (including frontline trials, lifecycle management, and expansion into new indications like IPF for Niktimvo), coupled with strong clinical data and market-leading positions in precision oncology, provide robust long-term growth avenues aligned with surging demand for innovative, targeted therapies. These factors support sustained multi-year earnings momentum.

Read the complete narrative.

Want to find out what’s fueling that sky-high fair value? Discover which bold assumptions about future earnings, margins, and rapid drug expansion drive this bullish outlook. The details inside might surprise you—see the numbers at the heart of the narrative.

Result: Fair Value of $38.31 (UNDERVALUED)

Have a read of the narrative in full and understand what's behind the forecasts.

However, setbacks in key clinical trials or delays in regulatory approvals could quickly challenge the bullish narrative and limit future growth expectations.

Find out about the key risks to this Syndax Pharmaceuticals narrative.

Another View: The Multiples Perspective

While the narrative points to massive upside, a quick look at Syndax’s sales ratio tells a more conservative story. The stock trades at 14.9 times sales, which is notably higher than both the biotech industry average of 12.1 and the peer average of 11.2. Even compared to the fair ratio of just 1.3, Syndax stands out as expensive. This raises practical questions: could the market be overestimating future sales, or will rapid growth justify the premium?

See what the numbers say about this price — find out in our valuation breakdown.

Build Your Own Syndax Pharmaceuticals Narrative

Feel free to dig into the data, challenge the assumptions, and build your own perspective. Crafting a personalized narrative takes less than three minutes with our tools. Do it your way

A good starting point is our analysis highlighting 2 key rewards investors are optimistic about regarding Syndax Pharmaceuticals.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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