Brokerages Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) PT at $35.89

by · The Cerbat Gem

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $35.78.

SNDX has been the subject of a number of research analyst reports. Stifel Nicolaus raised their price target 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. HC Wainwright raised their price target on shares of Syndax Pharmaceuticals from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. reduced 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. Jefferies Financial Group began coverage on shares of Syndax Pharmaceuticals in a report on Friday, June 28th. They set a “buy” rating and a $37.00 target price for the company. Finally, Bank of America raised their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th.

Get Our Latest Report on Syndax Pharmaceuticals

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Syndax Pharmaceuticals by 13.6% in the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after buying an additional 591,631 shares in the last quarter. Sofinnova Investments Inc. grew its position in shares of Syndax Pharmaceuticals by 33.9% in 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 during the period. StemPoint Capital LP grew its position in shares of Syndax Pharmaceuticals by 0.6% in 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 during the period. Millennium Management LLC grew its position in shares of Syndax Pharmaceuticals by 56.3% in 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 during the period. Finally, Iron Triangle Partners LP acquired a new stake in shares of Syndax Pharmaceuticals in the first quarter valued at about $23,159,000.

Syndax Pharmaceuticals Stock Down 0.9 %

Shares of SNDX opened at $19.71 on Monday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -5.83 and a beta of 0.91. Syndax Pharmaceuticals has a twelve month low of $11.22 and a twelve month high of $25.34. The company has a 50 day moving average of $19.33 and a two-hundred day moving average of $20.59.

Syndax Pharmaceuticals (NASDAQ:SNDX – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.11. The company had revenue of $3.50 million during the quarter. The company’s revenue was up 3499999990.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.64) earnings per share. On average, sell-side analysts expect that Syndax Pharmaceuticals will post -3.66 EPS for the current year.

About Syndax Pharmaceuticals

(Get Free Report

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).

Featured Stories