Analysts Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) PT at $34.42

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been given an average rating of “Moderate Buy” by the eleven brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $34.42.

A number of equities analysts have issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Syndax Pharmaceuticals from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. JPMorgan Chase & Co. restated an “overweight” rating and set a $34.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday. Citigroup cut their target price on shares of Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Scotiabank lowered shares of Syndax Pharmaceuticals from a “sector outperform” rating to a “sector perform” rating and cut their price objective for the company from $36.00 to $23.00 in a research report on Wednesday, January 31st. Finally, HC Wainwright reissued a “buy” rating and issued a $41.00 price objective on shares of Syndax Pharmaceuticals in a research report on Thursday, May 9th.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. BVF Inc. IL purchased a new stake in Syndax Pharmaceuticals during the fourth quarter worth approximately $40,519,000. Avoro Capital Advisors LLC grew its stake in Syndax Pharmaceuticals by 65.2% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock worth $91,242,000 after buying an additional 1,666,667 shares during the period. Kynam Capital Management LP grew its stake in Syndax Pharmaceuticals by 41.5% during the fourth quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company’s stock worth $122,313,000 after buying an additional 1,660,000 shares during the period. Franklin Resources Inc. purchased a new stake in Syndax Pharmaceuticals during the fourth quarter worth approximately $29,236,000. Finally, Avidity Partners Management LP grew its stake in Syndax Pharmaceuticals by 40.0% during the fourth quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock worth $85,360,000 after buying an additional 1,129,000 shares during the period.

Syndax Pharmaceuticals Trading Down 3.1 %

SNDX stock opened at $20.11 on Friday. The company has a market cap of $1.71 billion, a P/E ratio of -6.25 and a beta of 1.01. Syndax Pharmaceuticals has a 52 week low of $11.22 and a 52 week high of $25.34. The company’s 50-day moving average price is $21.97 and its 200 day moving average price is $20.72.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.11. During the same quarter last year, the firm posted ($0.59) EPS. On average, equities research analysts expect that Syndax Pharmaceuticals will post -3.58 earnings per share for the current 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).