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    Syndax Pharmaceuticals (SNDX) Looks Undervalued On Paper, Is It Still A Bargain?

    Simply Wall St·10/02/2026 02:27:59
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    Recent share performance and context

    Syndax Pharmaceuticals (SNDX) has drawn attention after recent trading, with the share price near $18.22 and performance over the past month and past 3 months showing moderate declines alongside a positive 1 year total return.

    For Syndax Pharmaceuticals, the picture is mixed, with the share price down over the past quarter and year to date, even as the 1 year total shareholder return of 18.01% and 3 year total shareholder return of 41.90% suggest that earlier optimism is still influencing sentiment.

    Compare Syndax Pharmaceuticals with other fast moving biotechs by scanning our hand picked list of 35 healthcare AI stocks that are also trying to turn complex science into commercial treatments.

    Syndax Pharmaceuticals has slipped from recent highs even as longer term holders still sit on sizable gains. Is most of the payoff already behind the stock, or does the current valuation still leave meaningful upside on the table?

    Most Popular Narrative: 54% Undervalued

    On the numbers, Syndax Pharmaceuticals is trading at $18.22 against a widely followed fair value estimate of $39.50, so the narrative frames today’s price as leaving a sizeable valuation gap that hinges on how its lead drugs scale commercially.

    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 targeted therapies. These are supporting sustained multi-year earnings momentum in analyst models.

    See why 14 investors see Syndax Pharmaceuticals as 54% undervalued.

    Analysts behind this narrative are using a 7.46% discount rate and are modelling revenue growth of roughly 63.1% a year, with profit margins moving from deep losses today toward 14.7% in their outer-year forecasts. That path, along with expectations for earnings of $110.2 million by around 2029, underpins both the $39.50 fair value and the idea that the current share price implies a large discount if those assumptions play out.

    Underlying that view is a concentration in just two key therapies, Revuforj and Niktimvo. Together they carry much of the future earnings story. Any setback in trials, regulatory reviews or commercial uptake for these drugs would hit the narrative hard, which is why there is a wide spread between the most optimistic and most cautious analyst scenarios.

    Result: Fair Value of $39.50 (UNDERVALUED)

    Still, the story around Syndax Pharmaceuticals rests heavily on Revuforj and Niktimvo, so any clinical setback or slower than expected uptake could quickly challenge this undervaluation case.

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

    Next Steps

    Syndax Pharmaceuticals has a clear bull story running through this, yet the assumptions and risks are real and time sensitive. Pressure test the thesis yourself and see how the 2 key rewards.

    Looking for more investment ideas beyond Syndax Pharmaceuticals?

    If Syndax Pharmaceuticals has your attention, do not stop your research here. Broader ideas can sharpen your view and highlight opportunities you would otherwise miss.

    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.