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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $36.00.

SNDX has been the topic of several research analyst reports. HC Wainwright increased their price target on Syndax Pharmaceuticals from $47.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Citigroup boosted their price target on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Bank of America increased their price objective on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, Barclays boosted their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Syndax Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after purchasing an additional 541 shares during the period. Sei Investments Co. increased its holdings in Syndax Pharmaceuticals by 2.5% in the 1st quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock valued at $963,000 after acquiring an additional 991 shares during the last quarter. California State Teachers Retirement System lifted its stake in Syndax Pharmaceuticals by 1.5% in the 1st quarter. California State Teachers Retirement System now owns 76,557 shares of the company’s stock worth $1,822,000 after purchasing an additional 1,150 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Syndax Pharmaceuticals during the 2nd quarter valued at about $27,000. Finally, Ameritas Investment Partners Inc. grew its position in shares of Syndax Pharmaceuticals by 20.0% during the first quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock valued at $187,000 after purchasing an additional 1,312 shares in the last quarter.

Syndax Pharmaceuticals Trading Up 1.0 %

Shares of NASDAQ SNDX opened at $16.79 on Friday. The firm has a fifty day simple moving average of $18.99 and a two-hundred day simple moving average of $20.27. Syndax Pharmaceuticals has a 12 month low of $14.50 and a 12 month high of $25.34. The firm has a market capitalization of $1.43 billion, a PE ratio of -4.66 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data 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 company had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $9.16 million. During the same period in the previous year, the firm earned ($0.73) earnings per share. On average, sell-side analysts predict that Syndax Pharmaceuticals will post -3.61 earnings per share for the current year.

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).