Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $35.91 Average PT from Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned an average recommendation of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $35.91.

Several analysts have recently weighed in on SNDX shares. Citigroup lowered their target price on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. Scotiabank boosted their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. upped their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Wall Street Zen raised shares of Syndax Pharmaceuticals to a “sell” rating in a research report on Tuesday, May 6th. Finally, Guggenheim reissued a “buy” rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of Syndax Pharmaceuticals in the first quarter valued at approximately $25,000. Virtus ETF Advisers LLC lifted its position in Syndax Pharmaceuticals by 18.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock worth $70,000 after purchasing an additional 827 shares during the period. Cape Investment Advisory Inc. boosted its stake in Syndax Pharmaceuticals by 157.1% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company’s stock valued at $85,000 after purchasing an additional 3,927 shares in the last quarter. Magnetar Financial LLC bought a new position in Syndax Pharmaceuticals during the 1st quarter valued at $132,000. Finally, Optimize Financial Inc acquired a new position in shares of Syndax Pharmaceuticals during the 4th quarter valued at $152,000.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ:SNDX opened at $9.19 on Friday. Syndax Pharmaceuticals has a 12 month low of $8.58 and a 12 month high of $25.07. The business has a 50-day moving average of $11.06 and a two-hundred day moving average of $12.73. The company has a debt-to-equity ratio of 1.53, a current ratio of 5.80 and a quick ratio of 5.75. The firm has a market capitalization of $790.80 million, a PE ratio of -2.38 and a beta of 0.74.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.06. Syndax Pharmaceuticals had a negative net margin of 757.53% and a negative return on equity of 101.60%. The company had revenue of $20.04 million for the quarter, compared to analyst estimates of $15.88 million. During the same quarter last year, the firm posted ($0.85) earnings per share. The business’s quarterly revenue was up 1900.0% on a year-over-year basis. As a group, research analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

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).