Syndax Pharmaceuticals (NASDAQ:SNDX) Downgraded to “Sell” Rating by Wall Street Zen

Syndax Pharmaceuticals (NASDAQ:SNDX) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday.

Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price objective on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, November 12th. HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. UBS Group raised their price target on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Barclays lifted their price objective on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. Finally, BTIG Research restated a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.

Syndax Pharmaceuticals Stock Down 1.8%

Shares of NASDAQ SNDX opened at $21.00 on Friday. Syndax Pharmaceuticals has a 52-week low of $8.58 and a 52-week high of $22.73. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64. The business has a fifty day moving average of $19.22 and a two-hundred day moving average of $15.42. The stock has a market cap of $1.83 billion, a PE ratio of -5.82 and a beta of 0.48.

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

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC lifted its stake in shares of Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after acquiring an additional 1,922 shares during the period. Quantbot Technologies LP bought a new stake in Syndax Pharmaceuticals during the 3rd quarter worth about $53,000. Lazard Asset Management LLC acquired a new position in Syndax Pharmaceuticals during the 2nd quarter valued at about $66,000. Tower Research Capital LLC TRC lifted its position in Syndax Pharmaceuticals by 103.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after purchasing an additional 4,308 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $97,000.

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.