Zacks Investment Research cut shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

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. “

Other equities research analysts have also recently issued reports about the stock. ValuEngine cut shares of Syndax Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, November 7th. Nomura decreased their target price on shares of Syndax Pharmaceuticals from $22.00 to $12.00 and set a buy rating on the stock in a research report on Tuesday, December 18th. Morgan Stanley cut shares of Syndax Pharmaceuticals from an overweight rating to an equal weight rating and set a $6.00 target price on the stock. in a research report on Monday, October 29th. HC Wainwright decreased their target price on shares of Syndax Pharmaceuticals to $23.00 and set a buy rating on the stock in a research report on Friday, October 26th. Finally, Citigroup decreased their target price on shares of Syndax Pharmaceuticals from $15.00 to $12.00 and set a buy rating on the stock in a research report on Thursday, October 11th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Syndax Pharmaceuticals has a consensus rating of Buy and an average price target of $16.42.

SNDX opened at $4.04 on Friday. Syndax Pharmaceuticals has a 1 year low of $3.39 and a 1 year high of $15.20. The company has a market capitalization of $97.11 million, a P/E ratio of -1.39 and a beta of 2.65.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Monday, November 5th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.08. Syndax Pharmaceuticals had a negative net margin of 3,185.75% and a negative return on equity of 91.11%. The business had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $0.38 million. Analysts anticipate that Syndax Pharmaceuticals will post -2.87 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Rhumbline Advisers acquired a new position in Syndax Pharmaceuticals during the second quarter valued at approximately $103,000. DRW Securities LLC purchased a new stake in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $105,000. Claraphi Advisory Network LLC purchased a new stake in shares of Syndax Pharmaceuticals during the third quarter valued at approximately $129,000. Bank of America Corp DE raised its stake in shares of 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 valued at $197,000 after purchasing an additional 26,189 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $368,000. 61.75% of the stock is currently owned by hedge funds and other institutional investors.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which engages in the development of cancer therapies. Its products include candidate and entinostat. The company was founded by Richard A. Heyman, Eckard Weber, Peter Ordentlich, Ronald M. Evans and Michael Downes on October 11, 2005 and is headquartered in Waltham, MA.

Further Reading: What is Depreciation?

Get a free copy of the Zacks research report on Syndax Pharmaceuticals (SNDX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

Receive News & Ratings for Syndax Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syndax Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.