Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Average Recommendation of “Moderate Buy” by Analysts

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned an average rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $35.33.

SNDX has been the topic of several analyst reports. Citigroup lifted their price target on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. cut their price target on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. HC Wainwright lifted their price objective on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Stifel Nicolaus increased their target price on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Finally, Scotiabank downgraded shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th.

Syndax Pharmaceuticals Stock Performance

SNDX opened at $20.21 on Friday. The stock has a market capitalization of $1.72 billion, a P/E ratio of -6.28 and a beta of 0.94. The company’s 50-day simple moving average is $21.36 and its two-hundred day simple moving average is $21.62. Syndax Pharmaceuticals has a 52-week low of $11.22 and a 52-week high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.11. The business had revenue of $3.50 million during the quarter. The firm’s revenue for the quarter was up 3499999990.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.64) EPS. Research analysts forecast that Syndax Pharmaceuticals will post -3.66 EPS for the current fiscal year.

Insider Activity at Syndax Pharmaceuticals

In related news, CFO Keith A. Goldan acquired 1,250 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were acquired at an average cost of $20.03 per share, for a total transaction of $25,037.50. Following the completion of the transaction, the chief financial officer now directly owns 52,623 shares in the company, valued at approximately $1,054,038.69. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SNDX. Charles Schwab Investment Management Inc. boosted its position in Syndax Pharmaceuticals by 13.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 577,022 shares of the company’s stock valued at $12,469,000 after buying an additional 70,555 shares during the period. Assenagon Asset Management S.A. boosted its position in Syndax Pharmaceuticals by 54.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock valued at $8,806,000 after buying an additional 151,021 shares during the period. Trexquant Investment LP purchased a new stake in Syndax Pharmaceuticals in the 4th quarter valued at about $3,101,000. Vanguard Group Inc. boosted its position in Syndax Pharmaceuticals by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 4,335,353 shares of the company’s stock valued at $93,687,000 after buying an additional 718,051 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in Syndax Pharmaceuticals by 35.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,834,499 shares of the company’s stock valued at $61,254,000 after buying an additional 740,298 shares during the period.

About Syndax Pharmaceuticals

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).