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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned an average rating of “Moderate Buy” from the ten analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $34.10.

A number of research firms recently commented on SNDX. UBS Group dropped their target price on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday. Wall Street Zen raised shares of Syndax Pharmaceuticals to a “sell” rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. boosted their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Guggenheim restated a “buy” rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group began coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, July 10th. They set a “buy” rating and a $18.00 price objective on the stock.

Institutional Trading of Syndax Pharmaceuticals

Several large investors have recently added to or reduced their stakes in SNDX. Soleus Capital Management L.P. increased its stake in shares of Syndax Pharmaceuticals by 128.4% in the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after acquiring an additional 1,401,016 shares during the last quarter. Octagon Capital Advisors LP bought a new stake in Syndax Pharmaceuticals during the fourth quarter valued at about $11,951,000. Renaissance Technologies LLC bought a new stake in Syndax Pharmaceuticals during the fourth quarter valued at about $9,002,000. Trexquant Investment LP boosted its holdings in Syndax Pharmaceuticals by 1,309.7% during the fourth quarter. Trexquant Investment LP now owns 471,292 shares of the company’s stock valued at $6,230,000 after acquiring an additional 437,859 shares during the period. Finally, Altium Capital Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at about $4,891,000.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ SNDX opened at $9.21 on Wednesday. Syndax Pharmaceuticals has a one year low of $8.58 and a one year high of $25.07. The firm has a market cap of $792.52 million, a PE ratio of -2.39 and a beta of 0.70. The company has a debt-to-equity ratio of 1.53, a quick ratio of 5.75 and a current ratio of 5.80. The firm has a fifty day moving average of $9.95 and a 200 day moving average of $12.25.

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