Syndax initiated with a Buy at UBS

UBS analyst David Dai initiated coverage of Syndax (SNDX) with a Buy rating and $37 price target The firm launched coverage of SMID cap biotech sector with a focus in oncology and autoimmune diseases. Its top pick is Syndax. The company has a first-in-class menin therapy in acute myeloid leukemia awaiting likely FDA approval and pivotal data near-term, the analyst tells investors in a research note.