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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $35.33.

Several research firms recently commented on SNDX. Scotiabank downgraded shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. JPMorgan Chase & Co. decreased their price objective on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. HC Wainwright upped their price target on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Jefferies Financial Group started coverage on shares of Syndax Pharmaceuticals in a research report on Friday, June 28th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Barclays increased their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $18.02 on Thursday. The stock has a fifty day moving average price of $20.34 and a 200-day moving average price of $21.04. The firm has a market cap of $1.53 billion, a PE ratio of -5.60 and a beta of 0.91. Syndax Pharmaceuticals has a 1 year low of $11.22 and a 1 year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.11. The company had revenue of $3.50 million for the quarter. The firm’s revenue was up 3499999990.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.64) EPS. As a group, equities analysts anticipate that Syndax Pharmaceuticals will post -3.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in SNDX. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Syndax Pharmaceuticals in the second quarter worth about $27,000. nVerses Capital LLC purchased a new stake in Syndax Pharmaceuticals in the 2nd quarter worth approximately $33,000. Quadrant Capital Group LLC grew its position in shares of Syndax Pharmaceuticals by 158.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $53,000 after buying an additional 1,496 shares during the last quarter. Quarry LP increased its stake in shares of Syndax Pharmaceuticals by 75.0% during the second quarter. Quarry LP now owns 6,125 shares of the company’s stock valued at $126,000 after buying an additional 2,625 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Syndax Pharmaceuticals by 28.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 7,182 shares of the company’s stock worth $171,000 after acquiring an additional 1,587 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).