Brokerages Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Price Target at $37.20

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been given an average recommendation of “Moderate Buy” by the twelve brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $37.20.

A number of brokerages recently commented on SNDX. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. JPMorgan Chase & Co. cut their price target on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, November 12th. UBS Group increased their price target on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Barclays lifted their price objective on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, November 24th.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of SNDX. Pallas Capital Advisors LLC grew its position in Syndax Pharmaceuticals by 8.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 10,985 shares of the company’s stock valued at $231,000 after acquiring an additional 875 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Syndax Pharmaceuticals by 26.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after purchasing an additional 893 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Syndax Pharmaceuticals by 1.0% in the 3rd quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after purchasing an additional 1,241 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Syndax Pharmaceuticals by 9.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 17,562 shares of the company’s stock valued at $374,000 after purchasing an additional 1,455 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after purchasing an additional 1,922 shares in the last quarter.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ:SNDX opened at $21.25 on Friday. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $22.73. The company’s 50 day moving average price is $20.64 and its two-hundred day moving average price is $16.84. The firm has a market cap of $1.85 billion, a PE ratio of -5.89 and a beta of 0.46. The company has a quick ratio of 4.42, a current ratio of 4.64 and a debt-to-equity ratio of 2.78.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.04. The business had revenue of $45.87 million during the quarter, compared to analysts’ expectations of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.The firm’s revenue for the quarter was up 266.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.98) earnings per share. Equities research analysts predict that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.