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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $34.42.

Several research analysts have recently commented on the stock. StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a research note on Friday, January 19th. JPMorgan Chase & Co. upped their price objective on shares of Syndax Pharmaceuticals from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. HC Wainwright reaffirmed a “buy” rating and set a $41.00 price objective on shares of Syndax Pharmaceuticals in a report on Wednesday, March 27th. Finally, Scotiabank downgraded shares of Syndax Pharmaceuticals from a “sector outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $36.00 to $23.00 in a report on Wednesday, January 31st.

Syndax Pharmaceuticals Stock Up 1.5 %

Shares of SNDX opened at $20.80 on Monday. The company’s fifty day moving average is $22.80 and its 200-day moving average is $19.37. Syndax Pharmaceuticals has a 12 month low of $11.22 and a 12 month high of $25.34. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -7.03 and a beta of 1.03.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, February 27th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.99) by ($0.01). During the same period in the prior year, the business posted ($0.62) EPS. As a group, research analysts predict that Syndax Pharmaceuticals will post -3.7 earnings per share for the current fiscal year.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds have recently bought and sold shares of SNDX. JPMorgan Chase & Co. boosted its holdings in Syndax Pharmaceuticals by 40.7% in the 1st quarter. JPMorgan Chase & Co. now owns 239,829 shares of the company’s stock valued at $4,168,000 after purchasing an additional 69,356 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Syndax Pharmaceuticals by 5.9% during the 1st quarter. Bank of New York Mellon Corp now owns 176,391 shares of the company’s stock worth $3,066,000 after acquiring an additional 9,819 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Syndax Pharmaceuticals by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 27,029 shares of the company’s stock worth $470,000 after acquiring an additional 9,976 shares during the period. Rhumbline Advisers lifted its holdings in shares of Syndax Pharmaceuticals by 2.7% during the 1st quarter. Rhumbline Advisers now owns 58,239 shares of the company’s stock worth $1,012,000 after acquiring an additional 1,516 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 2.9% during the 1st quarter. BlackRock Inc. now owns 3,798,150 shares of the company’s stock worth $66,011,000 after acquiring an additional 108,256 shares during the period.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).