Zacks Investment Research Lowers Syndax Pharmaceuticals (SNDX) to Hold
Zacks Investment Research lowered shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a buy rating to a hold rating in a report issued on Thursday.
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. “
SNDX has been the subject of several other research reports. 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 target for the company. ValuEngine raised shares of Syndax Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, July 6th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $26.00.
Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Tuesday, August 7th. The company reported ($0.74) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.13. Syndax Pharmaceuticals had a negative net margin of 3,190.51% and a negative return on equity of 80.35%. The firm had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.38 million. sell-side analysts expect that Syndax Pharmaceuticals will post -3.12 earnings per share for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in SNDX. Deutsche Bank AG increased its position in shares of Syndax Pharmaceuticals by 68.7% in the fourth quarter. Deutsche Bank AG now owns 42,275 shares of the company’s stock worth $369,000 after acquiring an additional 17,213 shares in the last quarter. Asymmetry Capital Management L.P. increased its position in shares of Syndax Pharmaceuticals by 121.0% in the first quarter. Asymmetry Capital Management L.P. now owns 135,974 shares of the company’s stock worth $1,935,000 after acquiring an additional 74,444 shares in the last quarter. BlackRock Inc. increased its position in shares of Syndax Pharmaceuticals by 11.0% in the first quarter. BlackRock Inc. now owns 1,276,671 shares of the company’s stock worth $18,168,000 after acquiring an additional 126,941 shares in the last quarter. Sphera Funds Management LTD. increased its position in shares of Syndax Pharmaceuticals by 20.1% in the first quarter. Sphera Funds Management LTD. now owns 298,472 shares of the company’s stock worth $4,247,000 after acquiring an additional 50,000 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Syndax Pharmaceuticals by 5.3% in the first quarter. JPMorgan Chase & Co. now owns 426,941 shares of the company’s stock worth $6,075,000 after acquiring an additional 21,581 shares in the last quarter. 64.20% of the stock is owned by institutional investors.
About Syndax Pharmaceuticals
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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