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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $35.82.

A number of brokerages recently weighed in on SNDX. Stifel Nicolaus lifted their target price on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. StockNews.com raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday. UBS Group began coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a “buy” rating and a $37.00 target price for the company. Citigroup lifted 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. Finally, Barclays lifted 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 $21.52 on Friday. Syndax Pharmaceuticals has a fifty-two week low of $13.14 and a fifty-two week high of $25.34. The firm has a market capitalization of $1.83 billion, a P/E ratio of -6.37 and a beta of 0.92. The company’s 50 day moving average price is $19.09 and its two-hundred day moving average price is $20.33.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The company had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the prior year, the business earned ($0.73) EPS. On average, analysts expect that Syndax Pharmaceuticals will post -3.66 earnings per share for the current year.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Syndax Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after purchasing an additional 541 shares during the last quarter. Sei Investments Co. grew its position in Syndax Pharmaceuticals by 2.5% during the 1st quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock valued at $963,000 after purchasing an additional 991 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Syndax Pharmaceuticals by 1.5% during the 1st quarter. California State Teachers Retirement System now owns 76,557 shares of the company’s stock valued at $1,822,000 after acquiring an additional 1,150 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at about $27,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 20.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock valued at $187,000 after acquiring an additional 1,312 shares during the last quarter.

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).