Zacks Investment Research downgraded shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) from a hold rating to a sell rating in a research note published on Tuesday.

According to Zacks, “Syndax Pharmaceuticals, Inc. is a biopharmaceutical company which focused on the development and commercialization of entinostat, an epigenetic therapy for treatment-resistant cancers. The Company’s product pipeline includes ENCORE 601, ENCORE 602, J1353, NCI-7870, NCI-9844, E2112, NCI-8871 and NCI-9253 which are in clinical trial stage. Syndax Pharmaceuticals, Inc. is based in WALTHAM, United States. “

Several other analysts also recently weighed in on SNDX. ValuEngine upgraded shares of Syndax Pharmaceuticals from a sell rating to a hold rating in a report on Tuesday, June 27th. Morgan Stanley reiterated an overweight rating and issued a $25.00 target price (up previously from $24.00) on shares of Syndax Pharmaceuticals in a report on Monday, July 10th. Oppenheimer Holdings, Inc. set a $25.00 target price on shares of Syndax Pharmaceuticals and gave the company a buy rating in a report on Thursday, May 18th. Citigroup Inc. set a $24.00 target price on shares of Syndax Pharmaceuticals and gave the company a buy rating in a report on Friday, May 19th. Finally, FBR & Co began coverage on shares of Syndax Pharmaceuticals in a report on Thursday, March 16th. They issued an outperform rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. Syndax Pharmaceuticals currently has an average rating of Buy and an average target price of $23.91.

Syndax Pharmaceuticals (SNDX) opened at 13.27 on Tuesday. The company has a 50-day moving average price of $12.17 and a 200 day moving average price of $10.57. The company’s market cap is $242.24 million. Syndax Pharmaceuticals has a 52 week low of $6.31 and a 52 week high of $18.03.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, May 8th. The company reported ($0.71) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.74) by $0.03. Syndax Pharmaceuticals had a negative net margin of 3,861.72% and a negative return on equity of 52.82%. The firm had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.31 million. On average, equities research analysts forecast that Syndax Pharmaceuticals will post ($3.63) EPS for the current fiscal year.

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In other Syndax Pharmaceuticals news, insider Peter Ordentlich sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $15.00, for a total value of $75,000.00. Following the completion of the transaction, the insider now owns 5,000 shares in the company, valued at $75,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 24.10% of the company’s stock.

Several institutional investors have recently modified their holdings of SNDX. Bank of Montreal Can purchased a new position in shares of Syndax Pharmaceuticals during the second quarter worth approximately $158,000. C WorldWide Group Holding A S purchased a new position in shares of Syndax Pharmaceuticals during the first quarter worth approximately $163,000. Trexquant Investment LP purchased a new position in shares of Syndax Pharmaceuticals during the first quarter worth approximately $283,000. TIAA CREF Investment Management LLC increased its position in shares of Syndax Pharmaceuticals by 36.2% in the first quarter. TIAA CREF Investment Management LLC now owns 22,924 shares of the company’s stock worth $315,000 after buying an additional 6,091 shares during the last quarter. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Syndax Pharmaceuticals during the first quarter worth approximately $365,000. Hedge funds and other institutional investors own 53.59% of the company’s stock.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.

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Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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