Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $42.64 Consensus Target Price from Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been assigned an average rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $42.5455.

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, March 9th. Jefferies Financial Group reissued a “buy” rating and issued a $40.00 price objective (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. Barclays lifted their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Mizuho decreased their price objective on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Finally, The Goldman Sachs Group upped their price objective on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ADAR1 Capital Management LLC boosted its stake in Syndax Pharmaceuticals by 45.8% during the first quarter. ADAR1 Capital Management LLC now owns 17,500 shares of the company’s stock worth $409,000 after buying an additional 5,500 shares during the period. California State Teachers Retirement System boosted its stake in Syndax Pharmaceuticals by 31.7% during the first quarter. California State Teachers Retirement System now owns 103,009 shares of the company’s stock worth $2,406,000 after buying an additional 24,810 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Syndax Pharmaceuticals by 56.7% during the first quarter. The Manufacturers Life Insurance Company now owns 39,904 shares of the company’s stock worth $932,000 after buying an additional 14,443 shares during the period. Quantinno Capital Management LP boosted its stake in Syndax Pharmaceuticals by 11.0% during the first quarter. Quantinno Capital Management LP now owns 22,576 shares of the company’s stock worth $527,000 after buying an additional 2,237 shares during the period. Finally, SummitTX Capital L.P. boosted its stake in Syndax Pharmaceuticals by 69.6% during the first quarter. SummitTX Capital L.P. now owns 66,340 shares of the company’s stock worth $1,550,000 after buying an additional 27,213 shares during the period.

Syndax Pharmaceuticals Trading Down 4.1%

Shares of Syndax Pharmaceuticals stock opened at $19.41 on Tuesday. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of -6.96 and a beta of 0.41. The business has a 50-day moving average price of $22.95 and a 200-day moving average price of $20.85. The company has a quick ratio of 5.06, a current ratio of 5.47 and a debt-to-equity ratio of 8.26. Syndax Pharmaceuticals has a twelve month low of $8.59 and a twelve month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. The firm had revenue of $64.86 million during the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The business’s quarterly revenue was up 224.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.98) earnings per share. Equities research analysts anticipate that Syndax Pharmaceuticals will post -1.72 EPS for the current fiscal year.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.