Syndax Pharmaceuticals (NASDAQ:SNDX) Given New $16.00 Price Target at Scotiabank

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target lowered by research analysts at Scotiabank from $18.00 to $16.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Scotiabank’s price objective points to a potential upside of 15.94% from the stock’s previous close.

Several other research firms also recently weighed in on SNDX. Citigroup boosted their price target on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. upped their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. HC Wainwright reissued a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 10th. The Goldman Sachs Group upped their price objective on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $36.20.

Syndax Pharmaceuticals Stock Up 0.8 %

SNDX stock opened at $13.80 on Wednesday. Syndax Pharmaceuticals has a 52 week low of $12.40 and a 52 week high of $25.34. The stock has a market capitalization of $1.18 billion, a PE ratio of -3.80 and a beta of 0.89. The firm has a 50 day moving average of $15.96 and a 200 day moving average of $18.76.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.15. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the previous year, the firm posted ($0.73) earnings per share. On average, equities research analysts expect that Syndax Pharmaceuticals will post -2.39 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Syndax Pharmaceuticals by 4.1% during the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after acquiring an additional 148,491 shares in the last quarter. Sofinnova Investments Inc. raised its holdings in Syndax Pharmaceuticals by 33.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after purchasing an additional 545,129 shares during the period. Geode Capital Management LLC boosted its position in Syndax Pharmaceuticals by 3.5% during the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after purchasing an additional 66,459 shares in the last quarter. Franklin Resources Inc. grew its holdings in Syndax Pharmaceuticals by 13.4% in the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock valued at $34,948,000 after purchasing an additional 208,043 shares during the period. Finally, First Turn Management LLC increased its position in shares of Syndax Pharmaceuticals by 85.4% in the third quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock valued at $22,853,000 after buying an additional 546,776 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).