Syndax Pharmaceuticals’ (SNDX) “Buy” Rating Reaffirmed at HC Wainwright

Syndax Pharmaceuticals (NASDAQ:SNDX)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They currently have a $51.00 price target on the stock. HC Wainwright’s price objective points to a potential upside of 227.76% from the stock’s previous close.

Several other analysts also recently weighed in on SNDX. Bank of America boosted their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays raised their target price on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. StockNews.com lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. JPMorgan Chase & Co. lifted their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Stifel Nicolaus increased their price target on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $37.64.

Syndax Pharmaceuticals Price Performance

SNDX stock opened at $15.56 on Tuesday. The business has a 50-day moving average price of $18.22 and a 200 day moving average price of $19.62. Syndax Pharmaceuticals has a 1-year low of $15.00 and a 1-year high of $25.34. The company has a market capitalization of $1.33 billion, a P/E ratio of -4.29 and a beta of 0.86.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.15. The firm had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $9.16 million. During the same period in the prior year, the firm posted ($0.73) earnings per share. On average, analysts anticipate that Syndax Pharmaceuticals will post -2.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in SNDX. State Street Corp raised its stake in Syndax Pharmaceuticals by 4.1% during the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after purchasing an additional 148,491 shares during the period. Sofinnova Investments Inc. boosted its stake in shares of Syndax Pharmaceuticals by 33.9% in the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock valued at $44,215,000 after purchasing an additional 545,129 shares during the period. Geode Capital Management LLC lifted its holdings in Syndax Pharmaceuticals by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after buying an additional 66,459 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Syndax Pharmaceuticals by 13.4% during the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after acquiring an additional 208,043 shares during the period. Finally, First Turn Management LLC grew its stake in Syndax Pharmaceuticals by 85.4% during the 3rd quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock worth $22,853,000 after purchasing an additional 546,776 shares in the last quarter.

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).