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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have received an average recommendation of “Moderate Buy” from the ten brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $36.90.

SNDX has been the topic of a number of recent research reports. The Goldman Sachs Group upped their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 10th. JPMorgan Chase & Co. lifted their target price 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. Stifel Nicolaus increased their price target on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, Citigroup lifted their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 19th.

Syndax Pharmaceuticals Trading Up 2.1 %

SNDX opened at $14.37 on Friday. The firm has a 50 day moving average of $16.07 and a two-hundred day moving average of $18.80. The firm has a market capitalization of $1.23 billion, a PE ratio of -3.96 and a beta of 0.89. Syndax Pharmaceuticals has a 12-month low of $12.40 and a 12-month high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $9.16 million. During the same period last year, the business earned ($0.73) EPS. As a group, analysts predict that Syndax Pharmaceuticals will post -2.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SNDX. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $27,000. Values First Advisors Inc. purchased a new position in Syndax Pharmaceuticals in the 3rd quarter valued at $30,000. nVerses Capital LLC acquired a new stake in Syndax Pharmaceuticals during the 2nd quarter worth $33,000. Quantbot Technologies LP purchased a new stake in shares of Syndax Pharmaceuticals during the third quarter worth $49,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Syndax Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after buying an additional 541 shares during 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).