Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $35.33.

A number of analysts have recently issued reports on SNDX shares. Bank of America lifted their price target on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Citigroup increased their target price on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, August 16th. HC Wainwright raised their price target on shares of Syndax Pharmaceuticals from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Scotiabank cut shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Stifel Nicolaus raised their target price on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $17.93 on Thursday. The stock has a market capitalization of $1.52 billion, a PE ratio of -5.57 and a beta of 0.91. Syndax Pharmaceuticals has a fifty-two week low of $11.22 and a fifty-two week high of $25.34. The company has a fifty day moving average of $20.58 and a two-hundred day moving average of $21.11.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.11. The company had revenue of $3.50 million for the quarter. During the same period in the previous year, the business posted ($0.64) EPS. The firm’s revenue was up 3499999990.0% on a year-over-year basis. Research analysts forecast that Syndax Pharmaceuticals will post -3.66 earnings per share for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Institutional investors have recently bought and sold shares of the company. BVF Inc. IL purchased a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $40,519,000. Avoro Capital Advisors LLC grew its stake in shares of Syndax Pharmaceuticals by 65.2% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock worth $91,242,000 after acquiring an additional 1,666,667 shares in the last quarter. Kynam Capital Management LP increased its position in shares of Syndax Pharmaceuticals by 41.5% during the fourth quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company’s stock worth $122,313,000 after acquiring an additional 1,660,000 shares during the period. Franklin Resources Inc. purchased a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth $29,236,000. Finally, Avidity Partners Management LP raised its stake in shares of Syndax Pharmaceuticals by 40.0% in the fourth quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock valued at $85,360,000 after acquiring an additional 1,129,000 shares in the last quarter.

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).