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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have earned an average rating of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $37.20.

Several research firms recently weighed in on SNDX. HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. BTIG Research reissued a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. UBS Group raised their target price on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, 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.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC lifted its holdings in Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after buying an additional 1,922 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Syndax Pharmaceuticals during the third quarter worth $53,000. Lazard Asset Management LLC acquired a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at $66,000. Tower Research Capital LLC TRC boosted its holdings in Syndax Pharmaceuticals by 103.3% in the second 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, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Syndax Pharmaceuticals by 26.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after purchasing an additional 893 shares during the period.

Syndax Pharmaceuticals Trading Down 1.4%

NASDAQ SNDX opened at $20.31 on Friday. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.64 and a quick ratio of 4.42. The stock has a market capitalization of $1.77 billion, a P/E ratio of -5.63 and a beta of 0.48. The firm’s 50-day moving average is $20.57 and its two-hundred day moving average is $16.63. Syndax Pharmaceuticals has a 12 month low of $8.58 and a 12 month 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 (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $49.08 million. During the same period in the previous year, the firm earned ($0.98) EPS. The business’s revenue was up 266.4% on a year-over-year basis. On average, sell-side analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

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.