Syndax Pharmaceuticals (NASDAQ:SNDX) Research Coverage Started at UBS Group

UBS Group began coverage on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a research note published on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $37.00 target price on the stock.

Several other research firms have also weighed in on SNDX. Jefferies Financial Group assumed coverage on Syndax Pharmaceuticals in a report on Friday, June 28th. They set a “buy” rating and a $37.00 target price on the stock. JPMorgan Chase & Co. decreased their price objective on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Bank of America raised their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Stifel Nicolaus upped their price target on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, Citigroup upped their target price 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $35.90.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ SNDX opened at $18.75 on Thursday. Syndax Pharmaceuticals has a fifty-two week low of $11.96 and a fifty-two week high of $25.34. The firm has a market capitalization of $1.59 billion, a P/E ratio of -5.82 and a beta of 0.91. The company’s 50 day simple moving average is $19.25 and its 200 day simple moving average is $20.43.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its 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 company’s revenue for the quarter was up 3499999990.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.64) EPS. Sell-side analysts expect that Syndax Pharmaceuticals will post -3.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several large investors have recently made changes to their positions in SNDX. Iron Triangle Partners LP acquired a new stake in Syndax Pharmaceuticals in the first quarter valued at $23,159,000. Vanguard Group Inc. lifted its stake 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 purchasing an additional 718,051 shares during the last quarter. First Turn Management LLC bought a new position in Syndax Pharmaceuticals during the second quarter worth about $13,147,000. Sofinnova Investments Inc. increased its position in Syndax Pharmaceuticals by 33.9% during the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after buying an additional 545,129 shares during the last quarter. Finally, Millennium Management LLC raised its stake in Syndax Pharmaceuticals by 56.3% in the second quarter. Millennium Management LLC now owns 1,065,508 shares of the company’s stock valued at $21,875,000 after buying an additional 383,634 shares during the period.

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).