HC Wainwright Issues Positive Forecast for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price raised by HC Wainwright from $45.00 to $47.00 in a report published on Wednesday morning, Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other brokerages also recently issued reports on SNDX. Barclays upped their price target on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. UBS Group started coverage on shares of Syndax Pharmaceuticals in a report on Thursday, October 24th. They set a “buy” rating and a $37.00 price target on the stock. Stifel Nicolaus boosted their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a report on Monday, October 14th. Bank of America increased their price objective on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.10.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $21.35 on Wednesday. Syndax Pharmaceuticals has a 1 year low of $13.14 and a 1 year high of $25.34. The firm’s 50-day moving average is $19.06 and its 200 day moving average is $20.32. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of -6.32 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly 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 analysts’ expectations of $9.16 million. During the same quarter in the previous year, the company earned ($0.73) EPS. On average, equities analysts expect that Syndax Pharmaceuticals will post -3.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of hedge funds have recently modified their holdings of SNDX. Northwestern Mutual Wealth Management Co. purchased a new position in Syndax Pharmaceuticals during the second quarter valued at $27,000. Values First Advisors Inc. bought a new position in shares of Syndax Pharmaceuticals in the third quarter worth about $30,000. nVerses Capital LLC bought a new position in shares of Syndax Pharmaceuticals in the second quarter worth about $33,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Syndax Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after buying an additional 541 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Syndax Pharmaceuticals by 75.0% during the 2nd quarter. Quarry LP now owns 6,125 shares of the company’s stock valued at $126,000 after acquiring an additional 2,625 shares during the period.

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).