Guggenheim Begins Coverage on Syndax Pharmaceuticals Inc. (SNDX)
Stock analysts at Guggenheim initiated coverage on shares of Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) in a note issued to investors on Friday. The firm set a “buy” rating on the stock.
Separately, Zacks Investment Research upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, June 22nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Syndax Pharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $25.00.
Syndax Pharmaceuticals (NASDAQ:SNDX) traded down 3.80% on Friday, hitting $15.18. 16,201 shares of the stock were exchanged. The company has a 50-day moving average of $14.33 and a 200-day moving average of $13.47. The stock’s market cap is $269.93 million. Syndax Pharmaceuticals has a 12 month low of $8.97 and a 12 month high of $18.03.
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Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.07. On average, equities analysts predict that Syndax Pharmaceuticals will post ($3.01) EPS for the current year.
A number of hedge funds have recently modified their holdings of SNDX. Cormorant Asset Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the first quarter worth about $2,856,000. BlackRock Group LTD acquired a new stake in shares of Syndax Pharmaceuticals during the first quarter worth about $2,379,000. Jennison Associates LLC raised its stake in shares of Syndax Pharmaceuticals by 16.6% in the second quarter. Jennison Associates LLC now owns 537,545 shares of the company’s stock worth $5,247,000 after buying an additional 76,653 shares during the period. BlackRock Inc. acquired a new stake in shares of Syndax Pharmaceuticals during the first quarter worth about $594,000. Finally, Tiverton Asset Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the first quarter worth about $3,846,000. Institutional investors own 57.64% 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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