Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Rating Upgraded by Wall Street Zen

Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by equities research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Other research analysts have also issued reports about the stock. UBS Group raised their price objective on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. The Goldman Sachs Group upped their price objective on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Finally, BTIG Research reiterated a “buy” rating and issued a $56.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $37.20.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX opened at $21.30 on Friday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -5.90 and a beta of 0.48. The company has a quick ratio of 4.42, a current ratio of 4.64 and a debt-to-equity ratio of 2.78. The business’s 50 day moving average is $18.46 and its two-hundred day moving average is $14.98. Syndax Pharmaceuticals has a 52-week low of $8.58 and a 52-week high of $22.73.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.04. The business had revenue of $45.87 million during the quarter, compared to the consensus estimate of $49.08 million. Syndax Pharmaceuticals had a negative net margin of 279.31% and a negative return on equity of 160.60%. The business’s quarterly revenue was up 266.4% compared to the same quarter last year. During the same quarter last year, the company earned ($0.98) earnings per share. Analysts forecast that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,138,617 shares of the company’s stock worth $79,058,000 after purchasing an additional 104,683 shares during the last quarter. Bank of America Corp DE increased its position in Syndax Pharmaceuticals by 33.7% in the second quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after buying an additional 967,873 shares during the period. Kingdon Capital Management L.L.C. lifted its stake in Syndax Pharmaceuticals by 19.0% in the third quarter. Kingdon Capital Management L.L.C. now owns 2,500,000 shares of the company’s stock valued at $38,462,000 after buying an additional 400,000 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 1.3% during the third quarter. Franklin Resources Inc. now owns 2,390,561 shares of the company’s stock valued at $36,779,000 after acquiring an additional 30,884 shares during the period. Finally, Stempoint Capital LP boosted its holdings in shares of Syndax Pharmaceuticals by 48.4% during the second quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock valued at $22,220,000 after acquiring an additional 774,040 shares during the period.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.