Syndax Pharmaceuticals’ (SNDX) Buy Rating Reiterated at HC Wainwright

Syndax Pharmaceuticals (NASDAQ:SNDX)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They currently have a $40.00 target price on the stock. HC Wainwright’s price objective suggests a potential upside of 102.33% from the stock’s previous close.

Several other analysts have also issued reports on SNDX. Jefferies Financial Group restated a “buy” rating and issued a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Friday, March 27th. UBS Group dropped their price target on Syndax Pharmaceuticals from $38.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Citigroup upped their price target on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, The Goldman Sachs Group upped their price target on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.55.

Syndax Pharmaceuticals Stock Down 1.8%

SNDX stock opened at $19.77 on Friday. The stock’s fifty day simple moving average is $22.73 and its two-hundred day simple moving average is $20.99. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. Syndax Pharmaceuticals has a 1-year low of $8.59 and a 1-year high of $25.59. The stock has a market cap of $1.75 billion, a P/E ratio of -7.09 and a beta of 0.41.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The business had revenue of $64.86 million for the quarter, compared to analysts’ expectations of $69.76 million. During the same quarter in the previous year, the firm earned ($0.98) earnings per share. The business’s revenue was up 224.3% on a year-over-year basis. Analysts expect that Syndax Pharmaceuticals will post -1.66 EPS for the current year.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in SNDX. Larson Financial Group LLC raised its stake 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 valued at $45,000 after purchasing an additional 1,922 shares during the period. Quantbot Technologies LP bought a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter valued at $53,000. Smartleaf Asset Management LLC raised its stake in shares of Syndax Pharmaceuticals by 2,698.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after purchasing an additional 2,564 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at $66,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Syndax Pharmaceuticals by 103.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after purchasing an additional 4,308 shares during the period.

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.