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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $36.20.

A number of research analysts have issued reports on SNDX shares. The Goldman Sachs Group upped their target price on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Scotiabank lowered their price target on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, January 8th. Citigroup upped their target price on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a “buy” rating and a $37.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st.

Syndax Pharmaceuticals Trading Up 4.5 %

Shares of Syndax Pharmaceuticals stock opened at $13.67 on Wednesday. Syndax Pharmaceuticals has a 1-year low of $12.06 and a 1-year high of $25.34. The firm’s 50-day moving average price is $14.58 and its two-hundred day moving average price is $18.26. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -3.77 and a beta of 0.89.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.15. The company had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same quarter last year, the company earned ($0.73) EPS. As a group, equities research analysts predict that Syndax Pharmaceuticals will post -3.71 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNDX. Assenagon Asset Management S.A. lifted its holdings in shares of Syndax Pharmaceuticals by 343.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock worth $27,292,000 after buying an additional 1,598,428 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in Syndax Pharmaceuticals in the 3rd quarter valued at about $15,165,000. Eventide Asset Management LLC acquired a new position in shares of Syndax Pharmaceuticals during the 3rd quarter worth approximately $15,150,000. First Turn Management LLC increased its holdings in shares of Syndax Pharmaceuticals by 85.4% during the third quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock worth $22,853,000 after purchasing an additional 546,776 shares during the period. Finally, Millennium Management LLC raised its position in shares of Syndax Pharmaceuticals by 56.3% in the second quarter. Millennium Management LLC now owns 1,065,508 shares of the company’s stock valued at $21,875,000 after buying an additional 383,634 shares in the last quarter.

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).