Scotiabank Has Lowered Expectations for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective cut by equities research analysts at Scotiabank from $18.00 to $16.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Scotiabank’s price objective indicates a potential upside of 15.94% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Stifel Nicolaus boosted their price target on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. The Goldman Sachs Group upped their price objective on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. raised their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, HC Wainwright restated a “buy” rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

Syndax Pharmaceuticals Stock Up 0.8 %

SNDX opened at $13.80 on Wednesday. The company has a market cap of $1.18 billion, a PE ratio of -3.80 and a beta of 0.89. Syndax Pharmaceuticals has a twelve month low of $12.40 and a twelve month high of $25.34. The company has a 50-day moving average price of $15.96 and a 200 day moving average price of $18.76.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The firm had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same period in the previous year, the company earned ($0.73) EPS. As a group, sell-side analysts expect that Syndax Pharmaceuticals will post -2.39 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SNDX. Bank of New York Mellon Corp raised its position in Syndax Pharmaceuticals by 18.9% in the second 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. Rhumbline Advisers increased its position in shares of Syndax Pharmaceuticals by 9.4% during the 2nd quarter. Rhumbline Advisers now owns 119,285 shares of the company’s stock worth $2,449,000 after purchasing an additional 10,291 shares during the last quarter. Quest Partners LLC raised its holdings in Syndax Pharmaceuticals by 138.9% in the 2nd quarter. Quest Partners LLC now owns 13,635 shares of the company’s stock valued at $280,000 after buying an additional 7,928 shares during the period. American Century Companies Inc. acquired a new position in Syndax Pharmaceuticals in the second quarter valued at about $201,000. Finally, Nicholas Investment Partners LP purchased a new position in Syndax Pharmaceuticals during the second quarter worth about $1,280,000.

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).