Syndax Pharmaceuticals, Inc. (SNDX) Given Average Rating of “Buy” by Analysts
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received an average rating of “Buy” from the eleven ratings firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $23.13.
SNDX has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $25.00 target price (up from $24.00) on shares of Syndax Pharmaceuticals in a research report on Monday, July 10th. Zacks Investment Research lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Citigroup Inc. set a $20.00 target price on Syndax Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 11th. Nomura decreased their target price on Syndax Pharmaceuticals from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 11th. Finally, Oppenheimer Holdings, Inc. raised their target price on Syndax Pharmaceuticals to $29.00 and gave the company an “outperform” rating in a research report on Friday, August 11th.
Syndax Pharmaceuticals (NASDAQ SNDX) opened at 11.78 on Wednesday. The company’s market capitalization is $261.74 million. The company has a 50 day moving average of $11.91 and a 200 day moving average of $11.91. Syndax Pharmaceuticals has a 1-year low of $6.31 and a 1-year high of $15.17.
Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, August 10th. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.79) by $0.09. Syndax Pharmaceuticals had a negative return on equity of 58.23% and a negative net margin of 4,294.59%. The business had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.31 million. On average, analysts predict that Syndax Pharmaceuticals will post ($3.11) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of SNDX. Bank of New York Mellon Corp boosted its stake in Syndax Pharmaceuticals by 43.5% in the 1st quarter. Bank of New York Mellon Corp now owns 29,227 shares of the company’s stock worth $401,000 after purchasing an additional 8,861 shares during the period. Wellington Management Group LLP boosted its stake in Syndax Pharmaceuticals by 8.3% in the 1st quarter. Wellington Management Group LLP now owns 2,539,820 shares of the company’s stock worth $34,847,000 after purchasing an additional 195,172 shares during the period. TIAA CREF Investment Management LLC boosted its stake in Syndax Pharmaceuticals by 36.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 22,924 shares of the company’s stock worth $315,000 after purchasing an additional 6,091 shares during the period. Geode Capital Management LLC boosted its stake in Syndax Pharmaceuticals by 10.5% in the 1st quarter. Geode Capital Management LLC now owns 98,962 shares of the company’s stock worth $1,357,000 after purchasing an additional 9,410 shares during the period. Finally, Morgan Stanley boosted its stake in Syndax Pharmaceuticals by 209.0% in the 1st quarter. Morgan Stanley now owns 119,987 shares of the company’s stock worth $1,646,000 after purchasing an additional 81,159 shares during the period. Institutional investors and hedge funds own 70.68% of the company’s stock.
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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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