Syndax Pharmaceuticals Inc (SNDX) Given Consensus Rating of “Buy” by Brokerages
Syndax Pharmaceuticals Inc (NASDAQ:SNDX) has been assigned a consensus recommendation of “Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $31.33.
SNDX has been the subject of several recent analyst reports. Zacks Investment Research cut shares of Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. HC Wainwright initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, July 12th. They set a “buy” rating and a $30.00 price objective for the company. Finally, ValuEngine upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, July 6th.
Syndax Pharmaceuticals stock opened at $7.11 on Wednesday. Syndax Pharmaceuticals has a 12-month low of $6.10 and a 12-month high of $15.20. The stock has a market cap of $158.11 million, a P/E ratio of -2.45 and a beta of 1.29.
A number of institutional investors have recently added to or reduced their stakes in SNDX. The Manufacturers Life Insurance Company boosted its stake in Syndax Pharmaceuticals by 266.9% during the first quarter. The Manufacturers Life Insurance Company now owns 10,566 shares of the company’s stock worth $151,000 after buying an additional 7,686 shares during the period. Sofinnova Ventures Inc purchased a new position in Syndax Pharmaceuticals during the first quarter worth about $173,000. Rhumbline Advisers purchased a new position in Syndax Pharmaceuticals during the second quarter worth about $103,000. DRW Securities LLC purchased a new position in Syndax Pharmaceuticals during the second quarter worth about $105,000. Finally, Bank of America Corp DE boosted its stake in Syndax Pharmaceuticals by 1,382.0% during the second quarter. Bank of America Corp DE now owns 28,084 shares of the company’s stock worth $197,000 after buying an additional 26,189 shares during the period. Hedge funds and other institutional investors own 64.20% of the company’s stock.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapies for various cancer indications. The company's lead product candidate is Entinostat, which is in Phase 3 clinical trial for the treatment of hormone receptor positive or HR+, human epidermal growth factor receptor 2 negative or HER2-, and breast cancer; and Phase 1b/2 clinical trial.
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