Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned a consensus recommendation of “Moderate Buy” from the ten analysts that are covering the stock, MarketBeat 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 1-year target price among analysts that have updated their coverage on the stock in the last year is $36.20.

A number of equities analysts recently weighed in on the company. Scotiabank dropped their price target on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus raised their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. The Goldman Sachs Group raised their price objective on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, Citigroup raised their price objective on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Syndax Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after acquiring an additional 541 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at approximately $27,000. Values First Advisors Inc. bought a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at approximately $30,000. China Universal Asset Management Co. Ltd. raised its stake in shares of Syndax Pharmaceuticals by 10.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company’s stock valued at $239,000 after acquiring an additional 1,732 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at approximately $26,000.

Syndax Pharmaceuticals Price Performance

SNDX stock opened at $14.36 on Wednesday. The firm has a market cap of $1.23 billion, a PE ratio of -3.96 and a beta of 0.89. Syndax Pharmaceuticals has a 12 month low of $12.06 and a 12 month high of $25.34. The firm has a 50 day simple moving average of $14.33 and a 200 day simple moving average of $17.91.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.15. The company had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.16 million. During the same period in the prior year, the business earned ($0.73) earnings per share. As a group, sell-side analysts expect that Syndax Pharmaceuticals will post -3.71 earnings per share for the current year.

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).