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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been assigned an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $37.20.

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, November 12th. UBS Group upped their price objective on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Guggenheim started coverage on shares of Syndax Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $34.00 target price on the stock. BTIG Research reissued a “buy” rating and set a $56.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, December 9th. Finally, Barclays lifted their price objective on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, November 24th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new stake in Syndax Pharmaceuticals in the first quarter valued at $25,000. Larson Financial Group LLC increased its holdings in shares of Syndax Pharmaceuticals by 192.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after purchasing an additional 1,922 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at about $53,000. Lazard Asset Management LLC purchased a new stake in Syndax Pharmaceuticals during the second quarter worth about $66,000. Finally, Tower Research Capital LLC TRC grew its position in Syndax Pharmaceuticals by 103.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after buying an additional 4,308 shares during the period.

Syndax Pharmaceuticals Trading Down 1.7%

NASDAQ SNDX opened at $20.37 on Friday. The firm’s fifty day moving average is $17.01 and its two-hundred day moving average is $14.15. Syndax Pharmaceuticals has a one year low of $8.58 and a one year high of $21.42. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64. The firm has a market cap of $1.77 billion, a PE ratio of -5.64 and a beta of 0.48.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.04. The firm had revenue of $45.87 million for the quarter, compared to analyst estimates of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.The business’s revenue was up 266.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.98) earnings per share. Analysts expect that Syndax Pharmaceuticals will post -3.72 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).