UBS Group Has Lowered Expectations for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective reduced by UBS Group from $37.00 to $35.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 278.38% from the company’s current price.

A number of other equities analysts also recently commented on the stock. The Goldman Sachs Group started coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, July 10th. They issued a “buy” rating and a $18.00 target price on the stock. JPMorgan Chase & Co. raised their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Guggenheim reissued a “buy” rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. Wall Street Zen raised shares of Syndax Pharmaceuticals to a “sell” rating in a report on Tuesday, May 6th. Finally, Scotiabank raised their price target on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a “sector perform” rating in a report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.10.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $9.25 on Tuesday. The company has a quick ratio of 5.75, a current ratio of 5.80 and a debt-to-equity ratio of 1.53. The company has a market cap of $795.96 million, a P/E ratio of -2.40 and a beta of 0.70. Syndax Pharmaceuticals has a fifty-two week low of $8.58 and a fifty-two week high of $25.07. The firm’s 50 day moving average is $9.93 and its two-hundred day moving average is $12.23.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, topping 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 company had revenue of $20.04 million for the quarter, compared to the consensus estimate of $15.88 million. During the same quarter last year, the firm posted ($0.85) earnings per share. Syndax Pharmaceuticals’s revenue was up 1900.0% on a year-over-year basis. Analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in SNDX. 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 purchasing an additional 1,401,016 shares during the last quarter. Octagon Capital Advisors LP acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $11,951,000. Renaissance Technologies LLC acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $9,002,000. Trexquant Investment LP grew its stake 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 worth $6,230,000 after purchasing an additional 437,859 shares during the last quarter. Finally, Altium Capital Management LLC acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $4,891,000.

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).