Zacks Investment Research lowered shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a buy rating to a hold rating in a research report released on Thursday.

According to Zacks, “Syndax Pharmaceuticals, Inc. is a biopharmaceutical company which focused on the development and commercialization of entinostat, an epigenetic therapy for treatment-resistant cancers. The Company’s product pipeline includes ENCORE 601, ENCORE 602, J1353, NCI-7870, NCI-9844, E2112, NCI-8871 and NCI-9253 which are in clinical trial stage. Syndax Pharmaceuticals, Inc. is based in WALTHAM, United States. “

A number of other equities research analysts have also recently issued reports on the stock. HC Wainwright began coverage on shares of Syndax Pharmaceuticals in a report on Thursday, July 12th. They issued a buy rating and a $30.00 price objective for the company. ValuEngine upgraded shares of Syndax Pharmaceuticals from a sell rating to a hold rating in a report on Friday, July 6th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Syndax Pharmaceuticals has a consensus rating of Buy and an average price target of $26.00.

NASDAQ:SNDX traded down $0.04 during trading hours on Thursday, reaching $6.57. The company’s stock had a trading volume of 2,744 shares, compared to its average volume of 245,232. The stock has a market capitalization of $150.64 million, a PE ratio of -2.29 and a beta of 1.31. Syndax Pharmaceuticals has a one year low of $6.10 and a one year high of $15.20.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Tuesday, August 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.87) by $0.13. The firm had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $0.38 million. Syndax Pharmaceuticals had a negative net margin of 3,190.51% and a negative return on equity of 80.35%. equities analysts anticipate that Syndax Pharmaceuticals will post -3.12 earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Syndax Pharmaceuticals by 30.9% during the 2nd quarter. BlackRock Inc. now owns 1,670,816 shares of the company’s stock worth $11,729,000 after acquiring an additional 394,145 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Syndax Pharmaceuticals during the 1st quarter worth $4,269,000. Opaleye Management Inc. acquired a new position in Syndax Pharmaceuticals during the 1st quarter worth $3,166,000. Stonepine Capital Management LLC acquired a new position in Syndax Pharmaceuticals during the 2nd quarter worth $1,393,000. Finally, Macquarie Group Ltd. acquired a new position in Syndax Pharmaceuticals during the 2nd quarter worth $1,264,000. Hedge funds and other institutional investors own 64.20% of the company’s stock.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapies for various cancer indications. The company's lead product candidate is Entinostat, which is in Phase 3 clinical trial for the treatment of hormone receptor positive or HR+, human epidermal growth factor receptor 2 negative or HER2-, and breast cancer; and Phase 1b/2 clinical trial.

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