Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Cut to $16.00 by Analysts at Scotiabank

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price cut by Scotiabank from $18.00 to $16.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a sector perform rating on the stock.

Several other analysts have also recently issued reports on SNDX. JPMorgan Chase & Co. upped their price target on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. The Goldman Sachs Group increased their price objective on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price objective on the stock. StockNews.com lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Finally, Stifel Nicolaus raised 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. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $36.20.

Syndax Pharmaceuticals Stock Up 0.1 %

SNDX opened at $13.81 on Wednesday. Syndax Pharmaceuticals has a 52-week low of $12.40 and a 52-week high of $25.34. The company has a 50 day moving average of $15.75 and a two-hundred day moving average of $18.68. The company has a market cap of $1.18 billion, a P/E ratio of -3.80 and a beta of 0.89.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.13) by $0.15. The firm had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $9.16 million. During the same quarter last year, the company posted ($0.73) earnings per share. Research analysts anticipate that Syndax Pharmaceuticals will post -2.39 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of 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 buying an additional 148,491 shares during the period. Sofinnova Investments Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 33.9% in the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after buying an additional 545,129 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Syndax Pharmaceuticals by 3.5% in the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after buying an additional 66,459 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 13.4% in the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after buying an additional 208,043 shares during the period. Finally, 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.

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).