Syndax Pharmaceuticals (NASDAQ:SNDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

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. “

A number of other analysts also recently issued reports on the stock. ValuEngine downgraded shares of Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Monday, November 26th. Morgan Stanley downgraded shares of Syndax Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $6.00 price objective for the company. in a report on Monday, October 29th. HC Wainwright cut their price objective on shares of Syndax Pharmaceuticals to $23.00 and set a “buy” rating for the company in a report on Friday, October 26th. Finally, Citigroup cut their price objective on shares of Syndax Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, October 11th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $17.40.

Shares of SNDX stock opened at $4.76 on Friday. The stock has a market cap of $122.69 million, a P/E ratio of -1.64 and a beta of 2.65. Syndax Pharmaceuticals has a 52 week low of $4.36 and a 52 week high of $15.20.

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

Hedge funds and other institutional investors have recently bought and sold shares of the business. DRW Securities LLC bought a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at about $105,000. GSA Capital Partners LLP bought a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at about $368,000. 683 Capital Management LLC boosted its holdings in Syndax Pharmaceuticals by 32.4% in the 2nd quarter. 683 Capital Management LLC now owns 375,000 shares of the company’s stock valued at $2,633,000 after purchasing an additional 91,770 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Syndax Pharmaceuticals by 40.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 558,725 shares of the company’s stock valued at $3,922,000 after purchasing an additional 161,146 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Syndax Pharmaceuticals by 433.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 70,140 shares of the company’s stock valued at $492,000 after purchasing an additional 56,988 shares during the period. 61.75% of the stock is owned by hedge funds and other institutional investors.

About Syndax Pharmaceuticals

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.

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