Syndax initiated with an Overweight at JPMorgan

JPMorgan analyst Anupam Rama initiated coverage of Syndax with an Overweight rating and $41 price target. The Overweight rating is predominantly driven by revumenib in acute leukemias, which is "de-risked" and has "best-in-class potential, based on known data to date," Rama tells investors in a research note. The analyst’s peak sales estimate for revumenib is $1.3B in the refractory setting alone.