Syndax Pharmaceuticals (NASDAQ:SNDX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a research report report published on Tuesday,Benzinga reports. HC Wainwright currently has a $51.00 price objective on the stock.

A number of other brokerages have also recently weighed in on SNDX. Bank of America raised their price objective on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Citigroup increased their price target on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. UBS Group began coverage on shares of Syndax Pharmaceuticals in a report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, StockNews.com downgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $37.64.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX opened at $13.47 on Tuesday. The company’s fifty day moving average price is $17.91 and its 200-day moving average price is $19.51. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -3.71 and a beta of 0.86. Syndax Pharmaceuticals has a one year low of $13.32 and a one year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The firm had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same period in the prior year, the company earned ($0.73) EPS. As a group, equities research analysts expect that Syndax Pharmaceuticals will post -2.39 EPS for the current year.

Institutional Trading of Syndax Pharmaceuticals

A number of institutional investors have recently modified their holdings of SNDX. Franklin Resources Inc. increased its holdings in Syndax Pharmaceuticals by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock valued at $34,948,000 after purchasing an additional 208,043 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter worth approximately $595,000. Geode Capital Management LLC increased its stake in shares of Syndax Pharmaceuticals by 3.5% during the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock valued at $38,066,000 after buying an additional 66,459 shares during the period. Barclays PLC increased its stake in shares of Syndax Pharmaceuticals by 143.4% during the third quarter. Barclays PLC now owns 187,629 shares of the company’s stock valued at $3,612,000 after buying an additional 110,535 shares during the period. Finally, Y Intercept Hong Kong Ltd raised its holdings in shares of Syndax Pharmaceuticals by 319.4% during the third quarter. Y Intercept Hong Kong Ltd now owns 81,302 shares of the company’s stock valued at $1,565,000 after acquiring an additional 61,916 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).