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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $35.78.

A number of research firms recently weighed in on SNDX. Jefferies Financial Group began coverage on shares of Syndax Pharmaceuticals in a research report on Friday, June 28th. They set a “buy” rating and a $37.00 price target on the stock. Bank of America lifted their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. reduced their target price on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Barclays lifted their price target on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Finally, HC Wainwright upped their price objective on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Syndax Pharmaceuticals by 13.6% in the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after acquiring an additional 591,631 shares during the period. Sofinnova Investments Inc. lifted its stake in Syndax Pharmaceuticals by 33.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after purchasing an additional 545,129 shares in the last quarter. StemPoint Capital LP boosted its holdings in Syndax Pharmaceuticals by 0.6% in the 1st quarter. StemPoint Capital LP now owns 1,100,988 shares of the company’s stock valued at $26,204,000 after purchasing an additional 6,494 shares during the period. Millennium Management LLC grew its position in shares of Syndax Pharmaceuticals by 56.3% during the 2nd quarter. Millennium Management LLC now owns 1,065,508 shares of the company’s stock valued at $21,875,000 after purchasing an additional 383,634 shares in the last quarter. Finally, Iron Triangle Partners LP bought a new position in shares of Syndax Pharmaceuticals in the first quarter worth $23,159,000.

Syndax Pharmaceuticals Stock Performance

SNDX stock opened at $19.71 on Monday. The company has a market capitalization of $1.68 billion, a P/E ratio of -6.12 and a beta of 0.91. Syndax Pharmaceuticals has a 52-week low of $11.22 and a 52-week high of $25.34. The business has a 50-day simple moving average of $19.33 and a two-hundred day simple moving average of $20.55.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.11. The company had revenue of $3.50 million for the quarter. The firm’s revenue was up 3499999990.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.64) earnings per share. As a group, sell-side analysts forecast that Syndax Pharmaceuticals will post -3.66 earnings per share for the current fiscal year.

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).