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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been given an average rating of “Moderate Buy” by the ten research firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $34.10.

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group assumed coverage on Syndax Pharmaceuticals in a research note on Thursday, July 10th. They issued a “buy” rating and a $18.00 price target on the stock. UBS Group dropped their price target on Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday. Wall Street Zen raised Syndax Pharmaceuticals to a “sell” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. upped their price objective on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Finally, Scotiabank lifted their price objective on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 6th.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Soleus Capital Management L.P. grew its stake in shares of Syndax Pharmaceuticals by 128.4% in the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after buying an additional 1,401,016 shares during the last quarter. Octagon Capital Advisors LP purchased a new position in shares of Syndax Pharmaceuticals during the fourth quarter valued at about $11,951,000. Renaissance Technologies LLC purchased a new position in shares of Syndax Pharmaceuticals during the fourth quarter valued at about $9,002,000. Trexquant Investment LP lifted its holdings in shares of Syndax Pharmaceuticals by 1,309.7% in the 4th quarter. Trexquant Investment LP now owns 471,292 shares of the company’s stock valued at $6,230,000 after acquiring an additional 437,859 shares during the last quarter. Finally, Altium Capital Management LLC bought a new stake in Syndax Pharmaceuticals in the fourth quarter worth about $4,891,000.

Syndax Pharmaceuticals Trading Down 6.5%

NASDAQ SNDX opened at $9.21 on Wednesday. The stock has a 50-day simple moving average of $9.95 and a 200 day simple moving average of $12.25. The company has a market capitalization of $792.52 million, a PE ratio of -2.39 and a beta of 0.70. 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 has a 12 month low of $8.58 and a 12 month high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.04) by $0.06. Syndax Pharmaceuticals had a negative return on equity of 101.60% and a negative net margin of 757.53%. The business had revenue of $20.04 million during the quarter, compared to the consensus estimate of $15.88 million. During the same period last year, the company earned ($0.85) earnings per share. Syndax Pharmaceuticals’s quarterly revenue was up 1900.0% on a year-over-year basis. Research analysts forecast that Syndax Pharmaceuticals will post -3.72 EPS for the current 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).