Syndax Pharmaceuticals’ (SNDX) Buy Rating Reiterated at HC Wainwright

Syndax Pharmaceuticals (NASDAQ:SNDX)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a report issued on Friday,Benzinga reports. They currently have a $40.00 price target on the stock. HC Wainwright’s target price indicates a potential upside of 102.33% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Friday, March 27th. JPMorgan Chase & Co. increased their price objective on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 9th. UBS Group dropped their price objective on Syndax Pharmaceuticals from $38.00 to $37.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. The Goldman Sachs Group increased their price objective on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Finally, Wall Street Zen upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.55.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ SNDX opened at $19.77 on Friday. The firm has a market capitalization of $1.75 billion, a P/E ratio of -7.09 and a beta of 0.41. The company has a quick ratio of 5.06, a current ratio of 5.47 and a debt-to-equity ratio of 8.26. The stock’s 50-day simple moving average is $22.73 and its two-hundred day simple moving average is $20.99. Syndax Pharmaceuticals has a twelve month low of $8.59 and a twelve month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.11. The business had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The company’s quarterly revenue was up 224.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.98) EPS. As a group, equities analysts anticipate that Syndax Pharmaceuticals will post -1.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of SNDX. Sector Gamma AS purchased a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at approximately $3,243,000. Apis Capital Advisors LLC purchased a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at approximately $9,816,000. Torray Investment Partners LLC purchased a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at approximately $2,055,000. Palumbo Wealth Management LLC purchased a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at approximately $1,079,000. Finally, Keybank National Association OH purchased a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at approximately $2,305,000.

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.