Syndax Pharmaceuticals (SNDX) Downgraded to “Hold” at Zacks Investment Research

Syndax Pharmaceuticals (NASDAQ:SNDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

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. “

Other equities analysts have also recently issued reports about the stock. B. Riley began coverage on shares of Syndax Pharmaceuticals in a research note on Friday, January 5th. They issued a “buy” rating and a $40.00 target price for the company. BidaskClub upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $24.38.

Syndax Pharmaceuticals (NASDAQ:SNDX) traded up $0.65 during mid-day trading on Tuesday, hitting $10.82. 563,000 shares of the stock traded hands, compared to its average volume of 391,279. The stock has a market cap of $263.90 and a P/E ratio of -3.82. Syndax Pharmaceuticals has a fifty-two week low of $6.31 and a fifty-two week high of $15.70.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, November 7th. The company reported ($0.68) EPS for the quarter, beating the consensus estimate of ($0.80) by $0.12. The business had revenue of $0.31 million for the quarter, compared to the consensus estimate of $0.30 million. Syndax Pharmaceuticals had a negative net margin of 4,304.34% and a negative return on equity of 57.90%. The business’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.84) EPS. analysts predict that Syndax Pharmaceuticals will post -2.92 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in shares of Syndax Pharmaceuticals by 8.3% during the first quarter. Wellington Management Group LLP now owns 2,539,820 shares of the company’s stock worth $34,847,000 after buying an additional 195,172 shares in the last quarter. FMR LLC grew its holdings in shares of Syndax Pharmaceuticals by 7.3% in the second quarter. FMR LLC now owns 1,341,644 shares of the company’s stock valued at $18,743,000 after purchasing an additional 91,328 shares during the period. BlackRock Advisors LLC grew its holdings in shares of Syndax Pharmaceuticals by 232.7% in the second quarter. BlackRock Advisors LLC now owns 1,026,902 shares of the company’s stock valued at $10,115,000 after purchasing an additional 718,209 shares during the period. Jennison Associates LLC purchased a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at about $13,325,000. Finally, Vanguard Group Inc. grew its holdings in shares of Syndax Pharmaceuticals by 25.1% in the second quarter. Vanguard Group Inc. now owns 512,624 shares of the company’s stock valued at $7,161,000 after purchasing an additional 102,700 shares during the period. 61.65% of the stock is owned by institutional investors and hedge funds.

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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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