StockNews.com Downgrades Syndax Pharmaceuticals (NASDAQ:SNDX) to Sell

StockNews.com lowered shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a hold rating to a sell rating in a report published on Saturday.

Several other brokerages have also recently issued reports on SNDX. JPMorgan Chase & Co. upped their price target on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Barclays increased their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. HC Wainwright raised their price target on Syndax Pharmaceuticals from $49.00 to $51.00 and gave the company a “buy” rating in a report on Monday, November 18th. Citigroup increased their price target on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Bank of America boosted their target price on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $37.64.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $16.50 on Friday. The business’s fifty day moving average is $18.57 and its 200 day moving average is $19.93. Syndax Pharmaceuticals has a 52-week low of $15.00 and a 52-week high of $25.34. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -4.52 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.15. The firm 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) EPS. Equities analysts predict that Syndax Pharmaceuticals will post -3.69 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Simplify Asset Management Inc. boosted its position in Syndax Pharmaceuticals by 62.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock worth $2,352,000 after purchasing an additional 46,992 shares during the period. Assenagon Asset Management S.A. increased its position in Syndax Pharmaceuticals by 54.3% in the second quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock worth $8,806,000 after buying an additional 151,021 shares during the period. Bank of New York Mellon Corp boosted its stake in Syndax Pharmaceuticals by 18.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company’s stock valued at $5,991,000 after purchasing an additional 46,463 shares during the period. Renaissance Technologies LLC grew its holdings in 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 buying an additional 135,200 shares in the last quarter. Finally, First Turn Management LLC boosted its holdings in shares of Syndax Pharmaceuticals by 85.4% in the third quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock valued at $22,853,000 after acquiring an additional 546,776 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).