Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have earned a consensus rating of “Moderate Buy” from the eleven research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $35.91.

A number of equities analysts recently commented on SNDX shares. Wall Street Zen upgraded Syndax Pharmaceuticals to a “sell” rating in a report on Tuesday, May 6th. Scotiabank raised their price objective on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 6th. HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. Citigroup dropped their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. Finally, Guggenheim reaffirmed a “buy” rating and set a $32.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Virtus ETF Advisers LLC grew its stake in shares of Syndax Pharmaceuticals by 18.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock valued at $70,000 after acquiring an additional 827 shares in the last quarter. E Fund Management Co. Ltd. raised its stake in Syndax Pharmaceuticals by 14.4% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company’s stock worth $167,000 after purchasing an additional 1,583 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Syndax Pharmaceuticals by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company’s stock valued at $706,000 after purchasing an additional 1,811 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Syndax Pharmaceuticals by 2.5% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 83,297 shares of the company’s stock worth $1,101,000 after purchasing an additional 1,995 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Syndax Pharmaceuticals during the 1st quarter worth approximately $25,000.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX opened at $9.48 on Friday. The stock has a market capitalization of $815.75 million, a PE ratio of -2.46 and a beta of 0.74. Syndax Pharmaceuticals has a 1-year low of $8.58 and a 1-year high of $25.07. The firm has a fifty day simple moving average of $11.10 and a 200 day simple moving average of $12.84. The company has a current ratio of 5.80, a quick ratio of 5.75 and a debt-to-equity ratio of 1.53.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Monday, May 5th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.06. Syndax Pharmaceuticals had a negative net margin of 757.53% and a negative return on equity of 101.60%. The firm had revenue of $20.04 million during the quarter, compared to analysts’ expectations of $15.88 million. During the same quarter last year, the company posted ($0.85) earnings per share. The company’s revenue for the quarter was up 1900.0% compared to the same quarter last year. On average, research analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).