Brokerages Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) PT at $37.20

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

Several analysts recently issued reports on SNDX shares. Stifel Nicolaus assumed coverage on shares of Syndax Pharmaceuticals in a report on Wednesday, September 10th. They issued a “buy” rating and a $44.00 price objective on the stock. HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. JPMorgan Chase & Co. decreased their price objective on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 8th. Finally, Wall Street Zen lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, December 6th.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new position in Syndax Pharmaceuticals during the 1st quarter worth approximately $25,000. Larson Financial Group LLC lifted its position in shares of Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after purchasing an additional 1,922 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Syndax Pharmaceuticals during the third quarter worth $53,000. Lazard Asset Management LLC purchased a new position in Syndax Pharmaceuticals in the second quarter valued at $66,000. Finally, Tower Research Capital LLC TRC increased its holdings in Syndax Pharmaceuticals by 103.3% in 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 during the last quarter.

Syndax Pharmaceuticals Trading Up 2.5%

Shares of Syndax Pharmaceuticals stock opened at $20.88 on Friday. The stock has a 50 day moving average of $16.85 and a 200 day moving average of $14.04. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -5.78 and a beta of 0.47. Syndax Pharmaceuticals has a fifty-two week low of $8.58 and a fifty-two week high of $21.22.

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

Syndax Pharmaceuticals Company Profile

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).