Syndax Pharmaceuticals (SNDX) stock plummeted 8.91% in intraday trading on Tuesday, following the company's disclosure of new risks that could impact its revenue growth prospects.
According to the company's filing, Syndax faces challenges in navigating regulatory hurdles and unfavorable market conditions, which could hinder its ability to drive revenue growth. These disclosed risks have introduced uncertainties around the company's future financial performance and growth trajectory, prompting investors to reevaluate the stock's valuation.
While analysts maintain a mixed outlook on the healthcare stock, with an average "buy" rating and a mean price target of $36.29, the disclosed revenue growth challenges appear to have weighed heavily on investor sentiment, leading to the significant stock price decline.
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