Analysts Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) PT at $37.20

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $37.20.

Several research firms recently commented on SNDX. The Goldman Sachs Group boosted their price target on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Stifel Nicolaus initiated coverage on Syndax Pharmaceuticals in a research report on Wednesday, September 10th. They issued a “buy” rating and a $44.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. UBS Group lifted their price target on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen downgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, December 6th.

Syndax Pharmaceuticals Price Performance

Shares of SNDX stock opened at $20.77 on Friday. The firm has a fifty day simple moving average of $17.19 and a 200-day simple moving average of $14.26. The company has a market capitalization of $1.81 billion, a PE ratio of -5.75 and a beta of 0.48. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $21.42. The company has a current ratio of 4.64, a quick ratio of 4.42 and a debt-to-equity ratio of 2.78.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.04. The firm had revenue of $45.87 million for the quarter, compared to the consensus estimate of $49.08 million. Syndax Pharmaceuticals had a negative net margin of 279.31% and a negative return on equity of 160.60%. The firm’s quarterly revenue was up 266.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.98) EPS. Equities research analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Deutsche Bank AG raised its stake in Syndax Pharmaceuticals by 127.7% during the first quarter. Deutsche Bank AG now owns 204,732 shares of the company’s stock valued at $2,516,000 after buying an additional 114,828 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Syndax Pharmaceuticals by 49.7% in the 1st quarter. Invesco Ltd. now owns 76,848 shares of the company’s stock valued at $944,000 after acquiring an additional 25,524 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 1st quarter valued at approximately $2,754,000. Russell Investments Group Ltd. lifted its stake in Syndax Pharmaceuticals by 305.3% during the first quarter. Russell Investments Group Ltd. now owns 117,613 shares of the company’s stock worth $1,445,000 after purchasing an additional 88,591 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its holdings in Syndax Pharmaceuticals by 27.2% in the first quarter. E Fund Management Co. Ltd. now owns 16,031 shares of the company’s stock worth $197,000 after purchasing an additional 3,428 shares during the period.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.