Syndax Pharmaceuticals (NASDAQ:SNDX) Given “Buy” Rating at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a research report released on Tuesday morning,Benzinga reports. BTIG Research currently has a $56.00 target price on the stock.

SNDX has been the topic of several other reports. The Goldman Sachs Group increased their price objective on shares of Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 5th. HC Wainwright restated a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. JPMorgan Chase & Co. decreased their target price on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 12th. Stifel Nicolaus assumed coverage on Syndax Pharmaceuticals in a research report on Wednesday, September 10th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, Barclays lifted their price target on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.20.

Syndax Pharmaceuticals Trading Down 2.4%

Syndax Pharmaceuticals stock opened at $19.51 on Tuesday. The stock has a 50-day moving average of $16.47 and a two-hundred day moving average of $13.74. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64. Syndax Pharmaceuticals has a one year low of $8.58 and a one year high of $20.59. The stock has a market cap of $1.70 billion, a PE ratio of -5.40 and a beta of 0.48.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative net margin of 279.31% and a negative return on equity of 160.60%. The business had revenue of $45.87 million during the quarter, compared to analysts’ expectations of $49.08 million. During the same quarter last year, the company posted ($0.98) earnings per share. The business’s quarterly revenue was up 266.4% on a year-over-year basis. On average, research analysts anticipate that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in Syndax Pharmaceuticals during the 1st quarter worth approximately $25,000. Larson Financial Group LLC boosted its holdings in shares of Syndax Pharmaceuticals by 192.2% in the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after acquiring an additional 1,922 shares in the last quarter. Quantbot Technologies LP acquired a new stake in Syndax Pharmaceuticals during the third quarter valued at approximately $53,000. Lazard Asset Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at $66,000. Finally, Tower Research Capital LLC TRC lifted its stake in Syndax Pharmaceuticals by 103.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after buying an additional 4,308 shares in the last quarter.

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).