Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Average Recommendation of “Moderate Buy” by Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $35.33.

Several analysts have commented on SNDX shares. HC Wainwright lifted their price objective on shares of Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Bank of America increased their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Barclays lifted their price objective on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. Stifel Nicolaus boosted their target price on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Finally, Jefferies Financial Group initiated coverage on Syndax Pharmaceuticals in a report on Friday, June 28th. They set a “buy” rating and a $37.00 price target for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SNDX. Charles Schwab Investment Management Inc. raised its holdings in shares of Syndax Pharmaceuticals by 13.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 577,022 shares of the company’s stock valued at $12,469,000 after purchasing an additional 70,555 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Syndax Pharmaceuticals by 54.3% during the second quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock worth $8,806,000 after buying an additional 151,021 shares during the period. Trexquant Investment LP purchased a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at approximately $3,101,000. Vanguard Group Inc. grew its position in Syndax Pharmaceuticals by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 4,335,353 shares of the company’s stock valued at $93,687,000 after buying an additional 718,051 shares during the last quarter. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Syndax Pharmaceuticals by 35.3% in the fourth quarter. Point72 Asset Management L.P. now owns 2,834,499 shares of the company’s stock valued at $61,254,000 after acquiring an additional 740,298 shares in the last quarter.

Syndax Pharmaceuticals Price Performance

Shares of SNDX stock opened at $18.00 on Thursday. The stock’s 50-day moving average is $20.91 and its 200 day moving average is $21.23. Syndax Pharmaceuticals has a 1-year low of $11.22 and a 1-year high of $25.34. The company has a market cap of $1.53 billion, a P/E ratio of -5.59 and a beta of 0.91.

Syndax Pharmaceuticals (NASDAQ:SNDX) 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, analysts anticipate that Syndax Pharmaceuticals will post -3.66 EPS 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).