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

StockNews.com upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a sell rating to a hold rating in a report published on Friday morning.

Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus increased their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th. UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a “buy” rating and a $37.00 target price for the company. HC Wainwright upped their target price on Syndax Pharmaceuticals from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. The Goldman Sachs Group lifted their price target 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 increased their price objective on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the company a “buy” rating in a report on Friday, August 16th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Syndax Pharmaceuticals Stock Down 5.7 %

Shares of Syndax Pharmaceuticals stock opened at $15.83 on Friday. Syndax Pharmaceuticals has a 52-week low of $14.50 and a 52-week high of $25.34. The firm’s 50 day moving average price is $18.87 and its 200-day moving average price is $20.21. The company has a market cap of $1.35 billion, a P/E ratio of -4.36 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same period in the previous year, the company posted ($0.73) earnings per share. As a group, equities research analysts forecast that Syndax Pharmaceuticals will post -3.61 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Syndax Pharmaceuticals in the second quarter worth approximately $27,000. Values First Advisors Inc. acquired a new stake in Syndax Pharmaceuticals during the 3rd quarter worth $30,000. nVerses Capital LLC purchased a new stake in shares of Syndax Pharmaceuticals during the second quarter worth $33,000. Quantbot Technologies LP acquired a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at about $49,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Syndax Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after buying an additional 541 shares in 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).