Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded by StockNews.com to “Hold” Rating

Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Friday.

Several other equities research analysts also recently weighed in on SNDX. HC Wainwright upped their target price on Syndax Pharmaceuticals from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday. Stifel Nicolaus increased their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Barclays lifted their price objective on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. The Goldman Sachs Group upped their target price on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Citigroup lifted their price target on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Syndax Pharmaceuticals Trading Down 5.7 %

Shares of Syndax Pharmaceuticals stock traded down $0.96 during trading hours on Friday, reaching $15.83. The stock had a trading volume of 5,023,028 shares, compared to its average volume of 1,128,477. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -4.36 and a beta of 0.92. Syndax Pharmaceuticals has a 1 year low of $14.50 and a 1 year high of $25.34. The firm has a 50 day simple moving average of $18.94 and a two-hundred day simple moving average of $20.25.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same period last year, the firm earned ($0.73) earnings per share. Sell-side analysts forecast that Syndax Pharmaceuticals will post -3.61 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 13.6% during the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after acquiring an additional 591,631 shares during the period. State Street Corp raised its position in Syndax Pharmaceuticals by 4.1% in the third 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. boosted its position in shares of Syndax Pharmaceuticals by 33.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock valued at $44,215,000 after purchasing an additional 545,129 shares during the period. First Turn Management LLC boosted its holdings 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 worth $22,853,000 after buying an additional 546,776 shares during the period. Finally, StemPoint Capital LP increased its position in shares of Syndax Pharmaceuticals by 0.6% in the first quarter. StemPoint Capital LP now owns 1,100,988 shares of the company’s stock worth $26,204,000 after acquiring an additional 6,494 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).