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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $37.20.

Several research analysts have recently weighed in on the company. BTIG Research restated a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, December 9th. UBS Group boosted their price objective on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. JPMorgan Chase & Co. dropped their target price on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, November 12th. Wall Street Zen downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $20.31 on Friday. The company has a fifty day simple moving average of $20.57 and a 200-day simple moving average of $16.63. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -5.63 and a beta of 0.48. The company has a quick ratio of 4.42, a current ratio of 4.64 and a debt-to-equity ratio of 2.78. Syndax Pharmaceuticals has a 52-week low of $8.58 and a 52-week high of $22.73.

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

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds have recently made changes to their positions in SNDX. Pallas Capital Advisors LLC raised its position in shares of Syndax Pharmaceuticals by 8.7% during the 4th quarter. Pallas Capital Advisors LLC now owns 10,985 shares of the company’s stock valued at $231,000 after buying an additional 875 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in Syndax Pharmaceuticals by 26.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after acquiring an additional 893 shares during the period. Schroder Investment Management Group increased its stake in Syndax Pharmaceuticals by 1.0% during the third quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock worth $1,920,000 after acquiring an additional 1,241 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Syndax Pharmaceuticals by 9.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 17,562 shares of the company’s stock valued at $374,000 after purchasing an additional 1,455 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Syndax Pharmaceuticals by 192.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after purchasing an additional 1,922 shares during the last quarter.

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.