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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned an average rating of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $35.89.

Several research firms have recently commented on SNDX. Jefferies Financial Group initiated coverage on shares of Syndax Pharmaceuticals in a research report on Friday, June 28th. They set a “buy” rating and a $37.00 target price for the company. HC Wainwright increased their price objective on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Barclays lifted their target price on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Stifel Nicolaus increased their price target on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Citigroup lifted their price objective on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, August 16th.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $19.13 on Monday. The business has a 50-day simple moving average of $19.33 and a 200 day simple moving average of $20.70. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -5.66 and a beta of 0.91. Syndax Pharmaceuticals has a one year low of $11.22 and a one year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.11. The firm had revenue of $3.50 million for the quarter. The firm’s revenue for the quarter was up 3499999990.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.64) earnings per share. On average, sell-side analysts expect that Syndax Pharmaceuticals will post -3.66 EPS for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at $27,000. nVerses Capital LLC bought a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at about $33,000. Quarry LP lifted its holdings in Syndax Pharmaceuticals by 75.0% during the second quarter. Quarry LP now owns 6,125 shares of the company’s stock valued at $126,000 after purchasing an additional 2,625 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Syndax Pharmaceuticals by 28.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 7,182 shares of the company’s stock worth $171,000 after purchasing an additional 1,587 shares during the period. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Syndax Pharmaceuticals by 20.0% in the first quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock worth $187,000 after purchasing an additional 1,312 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).