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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $37.20.

Several equities research analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. Stifel Nicolaus started coverage on shares of Syndax Pharmaceuticals in a report on Wednesday, September 10th. They issued a “buy” rating and a $44.00 price objective for the company. UBS Group boosted their target price on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Finally, Barclays upped their price target on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, November 24th.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently bought and sold shares of SNDX. AQR Capital Management LLC lifted its stake in shares of Syndax Pharmaceuticals by 478.8% in the 1st quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock valued at $4,637,000 after purchasing an additional 312,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Syndax Pharmaceuticals by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock worth $705,000 after purchasing an additional 3,094 shares during the period. Caxton Associates LLP purchased a new position in shares of Syndax Pharmaceuticals during the 1st quarter worth approximately $257,000. Exome Asset Management LLC increased its holdings in Syndax Pharmaceuticals by 5.7% in the 1st quarter. Exome Asset Management LLC now owns 337,198 shares of the company’s stock valued at $4,142,000 after purchasing an additional 18,298 shares during the last quarter. Finally, Zimmer Partners LP purchased a new stake in Syndax Pharmaceuticals in the first quarter valued at approximately $2,619,000.

Syndax Pharmaceuticals Trading Up 0.6%

SNDX stock opened at $20.34 on Wednesday. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $22.73. The business’s 50-day moving average is $18.74 and its 200 day moving average is $15.21. The company has a current ratio of 4.64, a quick ratio of 4.42 and a debt-to-equity ratio of 2.78. The stock has a market cap of $1.77 billion, a price-to-earnings ratio of -5.63 and a beta of 0.48.

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

About Syndax Pharmaceuticals

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.