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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and ten have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $37.64.

Several analysts have weighed in on the stock. Citigroup upped their price objective 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. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. UBS Group began coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a “buy” rating and a $37.00 price target on the stock. Stifel Nicolaus increased their price target on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Finally, HC Wainwright increased their price target on shares of Syndax Pharmaceuticals from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, November 18th.

Syndax Pharmaceuticals Stock Down 0.1 %

NASDAQ:SNDX opened at $16.70 on Tuesday. Syndax Pharmaceuticals has a 12-month low of $15.00 and a 12-month high of $25.34. The firm has a market capitalization of $1.43 billion, a PE ratio of -4.60 and a beta of 0.92. The firm has a 50-day moving average price of $18.41 and a 200 day moving average price of $19.76.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.15. The firm had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.16 million. During the same period in the prior year, the company posted ($0.73) earnings per share. On average, research analysts expect that Syndax Pharmaceuticals will post -2.39 EPS for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its position in shares of Syndax Pharmaceuticals by 4.1% during the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after purchasing an additional 148,491 shares during the period. Sofinnova Investments Inc. raised its position in shares of Syndax Pharmaceuticals by 33.9% during the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after purchasing an additional 545,129 shares during the period. Geode Capital Management LLC raised its position in shares of Syndax Pharmaceuticals by 3.5% during the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after purchasing an additional 66,459 shares during the period. Franklin Resources Inc. raised its position in shares of Syndax Pharmaceuticals by 13.4% during the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after purchasing an additional 208,043 shares during the period. Finally, First Turn Management LLC raised its position 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.

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).