StockNews.com Upgrades Syndax Pharmaceuticals (NASDAQ:SNDX) to “Hold”

Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other equities research analysts also recently weighed in on the company. Bank of America raised their price target on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays raised their price objective on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. reduced their price objective on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Citigroup raised their price objective on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, HC Wainwright raised their price objective on Syndax Pharmaceuticals from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $35.82.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX traded up $0.17 during trading on Thursday, hitting $21.52. The company’s stock had a trading volume of 1,116,210 shares, compared to its average volume of 1,065,171. The company has a market cap of $1.83 billion, a PE ratio of -6.37 and a beta of 0.92. The business’s 50 day simple moving average is $19.09 and its 200-day simple moving average is $20.33. Syndax Pharmaceuticals has a fifty-two week low of $13.14 and a fifty-two week high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results 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 business had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same period in the prior year, the business posted ($0.73) EPS. Analysts expect that Syndax Pharmaceuticals will post -3.66 EPS for the current fiscal year.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Iron Triangle Partners LP acquired a new stake in shares of Syndax Pharmaceuticals in the first quarter worth approximately $23,159,000. First Turn Management LLC acquired a new stake in shares of Syndax Pharmaceuticals in the second quarter worth approximately $13,147,000. Vanguard Group Inc. boosted its stake in shares of Syndax Pharmaceuticals by 13.6% in the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock worth $117,262,000 after acquiring an additional 591,631 shares during the last quarter. 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 worth $44,215,000 after acquiring an additional 545,129 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Syndax Pharmaceuticals by 56.3% during the second quarter. Millennium Management LLC now owns 1,065,508 shares of the company’s stock worth $21,875,000 after buying an additional 383,634 shares during 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).