Syndax Pharmaceuticals (NASDAQ:SNDX) Rating Increased to Hold at StockNews.com

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

SNDX has been the subject of a number of other research reports. The Goldman Sachs Group upped their price objective on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. reduced their price target on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Stifel Nicolaus upped their price target on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th. 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 research note on Friday, August 16th. Finally, HC Wainwright raised their price target on shares of Syndax Pharmaceuticals from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX traded down $0.96 during trading hours on Friday, reaching $15.83. The company’s stock had a trading volume of 5,049,785 shares, compared to its average volume of 1,128,477. The firm has a 50-day simple moving average of $18.94 and a 200-day simple moving average of $20.25. Syndax Pharmaceuticals has a 1 year low of $14.50 and a 1 year high of $25.34. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -4.36 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $9.16 million. During the same period in the prior year, the company earned ($0.73) earnings per share. Equities analysts anticipate that Syndax Pharmaceuticals will post -3.61 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in SNDX. Northwestern Mutual Wealth Management Co. acquired a new position in Syndax Pharmaceuticals in the 2nd quarter valued at about $27,000. Values First Advisors Inc. acquired a new position in shares of Syndax Pharmaceuticals during the 3rd quarter valued at $30,000. nVerses Capital LLC purchased a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at about $33,000. Quantbot Technologies LP purchased a new position in shares of Syndax Pharmaceuticals in the third quarter valued at $49,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Syndax Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after acquiring an additional 541 shares in the last quarter.

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).