Syndax Pharmaceuticals, Inc. (SNDX) Given Average Rating of “Buy” by Brokerages
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received a consensus rating of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating and eight have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $24.29.
SNDX has been the subject of a number of research reports. Zacks Investment Research lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 11th. Citigroup set a $20.00 price target on shares of Syndax Pharmaceuticals and gave the company a “buy” rating in a research report on Friday, August 11th. Instinet reissued a “buy” rating and set a $22.00 price target (down from $27.00) on shares of Syndax Pharmaceuticals in a research report on Monday, August 14th. Oppenheimer increased their price target on shares of Syndax Pharmaceuticals to $29.00 and gave the company an “outperform” rating in a research report on Friday, August 11th. Finally, Nomura decreased their price target on shares of Syndax Pharmaceuticals from $27.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, August 11th.
Institutional investors and hedge funds have recently bought and sold shares of the company. New York State Common Retirement Fund increased its holdings in Syndax Pharmaceuticals by 421.9% in the 2nd quarter. New York State Common Retirement Fund now owns 9,400 shares of the company’s stock worth $131,000 after buying an additional 7,599 shares during the period. Airain ltd acquired a new position in Syndax Pharmaceuticals in the 2nd quarter worth approximately $150,000. Bank of Montreal Can acquired a new position in Syndax Pharmaceuticals in the 2nd quarter worth approximately $158,000. Trexquant Investment LP acquired a new position in Syndax Pharmaceuticals in the 3rd quarter worth approximately $133,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Syndax Pharmaceuticals in the 3rd quarter worth approximately $154,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.
Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, November 7th. The company reported ($0.68) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.80) by $0.12. Syndax Pharmaceuticals had a negative net margin of 4,304.34% and a negative return on equity of 57.90%. The company had revenue of $0.31 million during the quarter, compared to analyst estimates of $0.30 million. During the same period in the prior year, the firm earned ($0.84) earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. analysts anticipate that Syndax Pharmaceuticals will post -3.03 earnings per share for the current fiscal year.
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Syndax Pharmaceuticals Company Profile
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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