Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $35.91 Consensus PT from Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have received an average rating of “Moderate Buy” from the eleven ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $35.91.

Several research firms have recently commented on SNDX. Wall Street Zen upgraded Syndax Pharmaceuticals to a “sell” rating in a report on Tuesday, May 6th. HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price target on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. Guggenheim restated a “buy” rating and set a $32.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Scotiabank boosted their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 6th.

Syndax Pharmaceuticals Trading Down 3.5%

SNDX opened at $8.90 on Friday. Syndax Pharmaceuticals has a 1-year low of $8.58 and a 1-year high of $25.07. The company has a current ratio of 5.80, a quick ratio of 5.75 and a debt-to-equity ratio of 1.53. The company has a market cap of $765.85 million, a P/E ratio of -2.31 and a beta of 0.74. The company has a fifty day moving average price of $10.97 and a two-hundred day moving average price of $12.68.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.06. Syndax Pharmaceuticals had a negative net margin of 757.53% and a negative return on equity of 101.60%. The firm had revenue of $20.04 million during the quarter, compared to the consensus estimate of $15.88 million. During the same period in the previous year, the firm posted ($0.85) earnings per share. The business’s revenue was up 1900.0% compared to the same quarter last year. Analysts predict that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in SNDX. Soleus Capital Management L.P. grew its position in Syndax Pharmaceuticals by 128.4% in the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after purchasing an additional 1,401,016 shares in the last quarter. Octagon Capital Advisors LP bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $11,951,000. Renaissance Technologies LLC bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $9,002,000. Trexquant Investment LP grew its holdings in shares of Syndax Pharmaceuticals by 1,309.7% in the fourth quarter. Trexquant Investment LP now owns 471,292 shares of the company’s stock valued at $6,230,000 after acquiring an additional 437,859 shares in the last quarter. Finally, Altium Capital Management LLC bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $4,891,000.

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).