Is Syndax Pharmaceuticals, Inc. overvalued or undervalued?

As of 1 August 2024, Syndax Pharmaceuticals, Inc. has moved from a classification of "does not qualify" to "risky." The company is currently considered overvalued. Key ratios indicate significant financial distress, with a Price to Book Value of 4.58, an EV to EBITDA of -2.38, and a staggering ROCE of -730.60%.
In comparison to its peers, Syndax's valuation metrics are concerning; Iovance Biotherapeutics, Inc. has an EV to EBITDA of -0.9146, while Arvinas, Inc. is categorized as attractive with an EV to EBITDA of 13.2158. The company's stock has underperformed significantly against the S&P 500, with a year-to-date return of -30.48% compared to the index's 2.44%. Overall, the financial indicators and peer comparisons suggest that Syndax Pharmaceuticals is overvalued in the current market environment.