Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been assigned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $37.64.

A number of equities research analysts recently weighed in on SNDX shares. UBS Group began coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a “buy” rating and a $37.00 price objective on the stock. Barclays boosted their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. HC Wainwright increased their price objective on shares of Syndax Pharmaceuticals from $49.00 to $51.00 and gave the company a “buy” rating in a report on Monday, November 18th. JPMorgan Chase & Co. boosted their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Stifel Nicolaus increased their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Simplify Asset Management Inc. boosted its position in shares of Syndax Pharmaceuticals by 62.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock valued at $2,352,000 after purchasing an additional 46,992 shares during the period. Assenagon Asset Management S.A. lifted its stake in Syndax Pharmaceuticals by 54.3% during the second quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock valued at $8,806,000 after buying an additional 151,021 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Syndax Pharmaceuticals by 18.9% during the second quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company’s stock valued at $5,991,000 after buying an additional 46,463 shares in the last quarter. Propel Bio Management LLC boosted its holdings in shares of Syndax Pharmaceuticals by 60.1% in the third quarter. Propel Bio Management LLC now owns 133,259 shares of the company’s stock worth $2,565,000 after buying an additional 50,000 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Syndax Pharmaceuticals by 170.9% in the second quarter. Renaissance Technologies LLC now owns 214,300 shares of the company’s stock worth $4,400,000 after acquiring an additional 135,200 shares in the last quarter.

Syndax Pharmaceuticals Trading Up 1.3 %

Shares of NASDAQ:SNDX opened at $17.01 on Tuesday. The firm’s 50 day moving average is $18.29 and its two-hundred day moving average is $19.66. The firm has a market capitalization of $1.45 billion, a P/E ratio of -4.69 and a beta of 0.86. Syndax Pharmaceuticals has a 52 week low of $15.00 and a 52 week high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the prior year, the business earned ($0.73) earnings per share. Analysts predict that Syndax Pharmaceuticals will post -2.39 EPS 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).