Syndax Pharmaceuticals (NASDAQ:SNDX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a research report released on Friday, Benzinga reports. HC Wainwright currently has a $41.00 price objective on the stock.

Other analysts have also issued reports about the stock. StockNews.com upgraded shares of Syndax Pharmaceuticals to a sell rating in a research note on Friday, January 19th. Scotiabank lowered shares of Syndax Pharmaceuticals from a sector outperform rating to a sector perform rating and reduced their price target for the stock from $36.00 to $23.00 in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Syndax Pharmaceuticals from $31.00 to $34.00 and gave the stock an overweight rating in a research note on Wednesday, March 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of Moderate Buy and a consensus price target of $34.42.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $21.06 on Friday. The firm has a market cap of $1.79 billion, a P/E ratio of -7.11 and a beta of 1.03. Syndax Pharmaceuticals has a fifty-two week low of $11.22 and a fifty-two week high of $25.34. The firm has a 50-day simple moving average of $22.67 and a two-hundred day simple moving average of $19.56.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, February 27th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.01). During the same quarter last year, the company posted ($0.62) EPS. On average, equities research analysts predict that Syndax Pharmaceuticals will post -3.7 EPS for the current year.

Institutional Trading of Syndax Pharmaceuticals

Large investors have recently added to or reduced their stakes in the business. BVF Inc. IL bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth approximately $40,519,000. Avoro Capital Advisors LLC boosted its position in shares of Syndax Pharmaceuticals by 65.2% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock worth $91,242,000 after purchasing an additional 1,666,667 shares during the period. Kynam Capital Management LP boosted its position in shares of Syndax Pharmaceuticals by 41.5% in the fourth quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company’s stock worth $122,313,000 after purchasing an additional 1,660,000 shares during the period. Franklin Resources Inc. bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth approximately $29,236,000. Finally, Avidity Partners Management LP boosted its position in shares of Syndax Pharmaceuticals by 40.0% in the fourth quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock worth $85,360,000 after purchasing an additional 1,129,000 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).