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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been assigned an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $35.78.

A number of equities research analysts have recently issued reports on SNDX shares. Barclays boosted their price objective on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. HC Wainwright boosted their price objective on shares of Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Stifel Nicolaus upped their target price on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup upped their target price on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th.

Syndax Pharmaceuticals Trading Down 0.9 %

Shares of SNDX opened at $19.71 on Monday. The firm has a market cap of $1.68 billion, a PE ratio of -5.83 and a beta of 0.91. The firm has a fifty day simple moving average of $19.33 and a two-hundred day simple moving average of $20.59. Syndax Pharmaceuticals has a 1-year low of $11.22 and a 1-year high of $25.34.

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

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Syndax Pharmaceuticals by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock worth $117,262,000 after acquiring an additional 591,631 shares in the last quarter. Sofinnova Investments Inc. boosted its stake in shares of Syndax Pharmaceuticals by 33.9% during the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock valued at $44,215,000 after purchasing an additional 545,129 shares in the last quarter. StemPoint Capital LP boosted its stake in shares of Syndax Pharmaceuticals by 0.6% during the first quarter. StemPoint Capital LP now owns 1,100,988 shares of the company’s stock valued at $26,204,000 after purchasing an additional 6,494 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Syndax Pharmaceuticals by 56.3% during the second quarter. Millennium Management LLC now owns 1,065,508 shares of the company’s stock valued at $21,875,000 after purchasing an additional 383,634 shares in the last quarter. Finally, Iron Triangle Partners LP acquired a new stake in Syndax Pharmaceuticals in the first quarter valued at approximately $23,159,000.

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).