HC Wainwright Forecasts Strong Price Appreciation for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective lifted by HC Wainwright from $47.00 to $49.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

SNDX has been the topic of several other research reports. UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price target on the stock. Barclays boosted their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Bank of America upped their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. cut their price target on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group upped their price target on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock opened at $15.83 on Tuesday. The firm’s 50-day simple moving average is $18.94 and its two-hundred day simple moving average is $20.25. Syndax Pharmaceuticals has a 52 week low of $14.50 and a 52 week high of $25.34. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of -4.36 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same period last year, the firm earned ($0.73) EPS. Analysts forecast that Syndax Pharmaceuticals will post -3.61 earnings per share for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of SNDX. Assenagon Asset Management S.A. raised its holdings in shares of Syndax Pharmaceuticals by 54.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock valued at $8,806,000 after buying an additional 151,021 shares in the last quarter. Simplify Asset Management Inc. grew its position in Syndax Pharmaceuticals by 62.5% during the third quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock valued at $2,352,000 after acquiring an additional 46,992 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Syndax Pharmaceuticals by 18.9% during the second quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company’s stock worth $5,991,000 after acquiring an additional 46,463 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Syndax Pharmaceuticals by 170.9% in the 2nd quarter. Renaissance Technologies LLC now owns 214,300 shares of the company’s stock worth $4,400,000 after acquiring an additional 135,200 shares during the last quarter. Finally, First Turn Management LLC purchased a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at $13,147,000.

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).