Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $37.20.

SNDX has been the subject of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. Barclays boosted their price target on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. BTIG Research reaffirmed a “buy” rating and set a $56.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. Stifel Nicolaus began coverage on Syndax Pharmaceuticals in a report on Wednesday, September 10th. They issued a “buy” rating and a $44.00 target price for the company. Finally, JPMorgan Chase & Co. lowered their target price on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, November 12th.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in SNDX. Vanguard Group Inc. boosted its holdings in Syndax Pharmaceuticals by 2.1% in the third quarter. Vanguard Group Inc. now owns 5,138,617 shares of the company’s stock valued at $79,058,000 after purchasing an additional 104,683 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Syndax Pharmaceuticals by 33.7% during the 2nd 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 last quarter. Kingdon Capital Management L.L.C. boosted its holdings in shares of Syndax Pharmaceuticals by 19.0% in the 3rd 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 in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 1.3% in the 3rd quarter. Franklin Resources Inc. now owns 2,390,561 shares of the company’s stock valued at $36,779,000 after buying an additional 30,884 shares in the last quarter. Finally, Stempoint Capital LP grew its position in shares of Syndax Pharmaceuticals by 48.4% in the 2nd quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock valued at $22,220,000 after buying an additional 774,040 shares during the last quarter.

Syndax Pharmaceuticals Price Performance

SNDX opened at $20.34 on Wednesday. The stock’s 50-day moving average price is $18.74 and its 200 day moving average price is $15.21. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $22.73. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -5.63 and a beta of 0.48. The company has a current ratio of 4.64, a quick ratio of 4.42 and a debt-to-equity ratio of 2.78.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.04. The company had revenue of $45.87 million during the quarter, compared to the consensus estimate of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.Syndax Pharmaceuticals’s revenue was up 266.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.98) EPS. As a group, sell-side analysts expect that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

Syndax Pharmaceuticals Company Profile

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.