Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have earned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $42.5455.

A number of research firms have recently commented on SNDX. Citigroup upped their target price on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Mizuho cut their target price on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Jefferies Financial Group reaffirmed a “buy” rating and set a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. JPMorgan Chase & Co. upped their target price on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, March 9th. Finally, The Goldman Sachs Group increased their price objective on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SNDX. AQR Capital Management LLC grew its stake in Syndax Pharmaceuticals by 478.8% in the first quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock worth $4,637,000 after purchasing an additional 312,231 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Syndax Pharmaceuticals by 5.8% in the first 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 in the last quarter. Caxton Associates LLP bought a new position in Syndax Pharmaceuticals in the first quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Syndax Pharmaceuticals by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company’s stock worth $2,466,000 after purchasing an additional 30,596 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in Syndax Pharmaceuticals by 4.9% in the second quarter. Legal & General Group Plc now owns 84,575 shares of the company’s stock worth $792,000 after purchasing an additional 3,937 shares in the last quarter.

Syndax Pharmaceuticals Trading Down 1.6%

SNDX opened at $20.23 on Tuesday. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -7.25 and a beta of 0.41. The stock’s 50 day moving average price is $22.99 and its 200-day moving average price is $20.76. Syndax Pharmaceuticals has a one year low of $8.59 and a one year high of $25.59. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. The firm had revenue of $64.86 million for the quarter, compared to analysts’ expectations of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The company’s quarterly revenue was up 224.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.98) earnings per share. On average, equities analysts forecast that Syndax Pharmaceuticals will post -1.72 EPS for the current year.

Syndax Pharmaceuticals Company Profile

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.