Brokerages Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) PT at $34.42

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have received an average rating of “Moderate Buy” from the eleven ratings firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $34.42.

A number of research firms have commented on SNDX. Scotiabank lowered shares of Syndax Pharmaceuticals from a “sector outperform” rating to a “sector perform” rating and reduced their price objective for the company from $36.00 to $23.00 in a research note on Wednesday, January 31st. Stifel Nicolaus increased their price target on shares of Syndax Pharmaceuticals from $39.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. HC Wainwright reissued a “buy” rating and issued a $41.00 price target on shares of Syndax Pharmaceuticals in a research report on Thursday, May 9th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $34.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday. Finally, Citigroup reduced their price target on shares of Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 9th.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in Syndax Pharmaceuticals by 2.7% during the third quarter. Wellington Management Group LLP now owns 7,642,446 shares of the company’s stock valued at $110,968,000 after acquiring an additional 198,262 shares in the last quarter. Kynam Capital Management LP grew its holdings in Syndax Pharmaceuticals by 41.5% during the fourth quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company’s stock valued at $122,313,000 after purchasing an additional 1,660,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Syndax Pharmaceuticals by 13.6% during the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after purchasing an additional 591,631 shares during the last quarter. Avoro Capital Advisors LLC grew its holdings in Syndax Pharmaceuticals by 65.2% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock valued at $91,242,000 after purchasing an additional 1,666,667 shares during the last quarter. Finally, Avidity Partners Management LP grew its holdings in Syndax Pharmaceuticals by 40.0% during the fourth quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock valued at $85,360,000 after purchasing an additional 1,129,000 shares during the last quarter.

Syndax Pharmaceuticals Trading Down 3.1 %

SNDX stock opened at $20.11 on Friday. Syndax Pharmaceuticals has a one year low of $11.22 and a one year high of $25.34. The firm has a market capitalization of $1.71 billion, a PE ratio of -6.25 and a beta of 1.01. The firm has a 50-day moving average of $21.97 and a two-hundred day moving average of $20.72.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.85) EPS for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.11. During the same quarter in the previous year, the business earned ($0.59) EPS. On average, equities research analysts anticipate that Syndax Pharmaceuticals will post -3.58 earnings per share for the current year.

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).