Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $35.33.

Several equities research analysts recently commented on the stock. HC Wainwright lifted their price target on shares of Syndax Pharmaceuticals from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Stifel Nicolaus raised their price target on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group initiated coverage on shares of Syndax Pharmaceuticals in a report on Friday, June 28th. They set a “buy” rating and a $37.00 price objective on the stock. Bank of America boosted their target price on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Finally, Citigroup upped their price target on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the company a “buy” rating in a report on Friday, August 16th.

Syndax Pharmaceuticals Trading Down 1.9 %

Shares of SNDX opened at $17.93 on Thursday. The firm’s fifty day simple moving average is $20.58 and its 200-day simple moving average is $21.11. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -5.57 and a beta of 0.91. Syndax Pharmaceuticals has a twelve month low of $11.22 and a twelve month high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.11. The business had revenue of $3.50 million for the quarter. During the same period last year, the business earned ($0.64) earnings per share. Syndax Pharmaceuticals’s revenue was up 3499999990.0% compared to the same quarter last year. On average, analysts predict that Syndax Pharmaceuticals will post -3.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Sei Investments Co. raised its position in Syndax Pharmaceuticals by 2.5% in the first quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock valued at $963,000 after purchasing an additional 991 shares during the period. California State Teachers Retirement System boosted its stake in Syndax Pharmaceuticals by 1.5% during the 1st quarter. California State Teachers Retirement System now owns 76,557 shares of the company’s stock valued at $1,822,000 after purchasing an additional 1,150 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Syndax Pharmaceuticals during the second quarter worth approximately $27,000. Ameritas Investment Partners Inc. boosted its position in Syndax Pharmaceuticals by 20.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock worth $187,000 after acquiring an additional 1,312 shares during the period. Finally, Quadrant Capital Group LLC grew its position in Syndax Pharmaceuticals by 158.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $53,000 after buying an additional 1,496 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).