Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a sell rating to a hold rating in a report released on Saturday.

Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus initiated coverage on shares of Syndax Pharmaceuticals in a research report on Wednesday, September 10th. They set a “buy” rating and a $44.00 price target on the stock. Barclays increased their target price on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. The Goldman Sachs Group boosted their price target on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 5th. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. Finally, UBS Group boosted their target price on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.20.

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock opened at $21.30 on Friday. The stock has a market cap of $1.85 billion, a P/E ratio of -5.90 and a beta of 0.48. The company has a current ratio of 4.64, a quick ratio of 4.42 and a debt-to-equity ratio of 2.78. The stock has a 50 day moving average of $18.46 and a 200-day moving average of $15.02. Syndax Pharmaceuticals has a 52 week low of $8.58 and a 52 week high of $22.73.

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

Institutional Trading of Syndax Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Schroder Investment Management Group boosted its stake in Syndax Pharmaceuticals by 1.0% during the 3rd quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after purchasing an additional 1,241 shares during the period. Larson Financial Group LLC raised its holdings in shares of Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after buying an additional 1,922 shares during the last quarter. Quarry LP acquired a new position in shares of Syndax Pharmaceuticals during the first quarter worth approximately $25,000. Teacher Retirement System of Texas grew its holdings in Syndax Pharmaceuticals by 11.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 23,132 shares of the company’s stock worth $217,000 after buying an additional 2,458 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Syndax Pharmaceuticals by 5.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 44,149 shares of the company’s stock valued at $413,000 after acquiring an additional 2,479 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.