Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) Receives Consensus Recommendation of “Buy” from Analysts
Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) has been given an average recommendation of “Buy” by the six ratings firms that are covering the firm. One investment analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $25.00.
A number of equities analysts have recently weighed in on SNDX shares. Zacks Investment Research upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 16th. Guggenheim started coverage on Syndax Pharmaceuticals in a report on Friday. They set a “buy” rating for the company.
Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) traded down 3.55% during midday trading on Friday, hitting $15.22. The stock had a trading volume of 28,589 shares. The stock’s market cap is $270.64 million. Syndax Pharmaceuticals has a one year low of $8.97 and a one year high of $18.03. The firm has a 50 day moving average price of $14.33 and a 200 day moving average price of $13.47.
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Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.07. On average, equities analysts forecast that Syndax Pharmaceuticals will post ($3.01) earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Cormorant Asset Management LLC bought a new stake in Syndax Pharmaceuticals during the first quarter worth about $2,856,000. BlackRock Group LTD bought a new stake in Syndax Pharmaceuticals during the first quarter worth about $2,379,000. Jennison Associates LLC raised its stake in 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 in the last quarter. BlackRock Inc. bought a new stake in Syndax Pharmaceuticals during the first quarter worth about $594,000. Finally, Tiverton Asset Management LLC bought a new stake in 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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