Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Lowered to $16.00 at Scotiabank

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective reduced by Scotiabank from $18.00 to $16.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Several other brokerages have also recently weighed in on SNDX. Citigroup boosted their price objective on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group boosted their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. UBS Group assumed coverage on Syndax Pharmaceuticals in a research report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price target for the company. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $13.11 on Wednesday. The stock has a 50 day moving average price of $15.53 and a 200-day moving average price of $18.60. Syndax Pharmaceuticals has a one year low of $12.40 and a one year high of $25.34. The company has a market capitalization of $1.12 billion, a P/E ratio of -3.61 and a beta of 0.89.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.16 million. During the same quarter last year, the business earned ($0.73) EPS. As a group, equities analysts predict that Syndax Pharmaceuticals will post -2.39 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several large investors have recently added to or reduced their stakes in SNDX. Simplify Asset Management Inc. raised its stake in shares of Syndax Pharmaceuticals by 62.5% during the third quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock valued at $2,352,000 after acquiring an additional 46,992 shares in the last quarter. Franklin Resources Inc. increased its holdings in Syndax Pharmaceuticals by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after purchasing an additional 208,043 shares during the period. State Street Corp raised its position in Syndax Pharmaceuticals by 4.1% during the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock valued at $72,588,000 after purchasing an additional 148,491 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company’s stock worth $13,397,000 after buying an additional 41,458 shares during the period. Finally, Barclays PLC grew its position in shares of Syndax Pharmaceuticals by 143.4% during the 3rd quarter. Barclays PLC now owns 187,629 shares of the company’s stock worth $3,612,000 after buying an additional 110,535 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).