HC Wainwright Forecasts Strong Price Appreciation for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target lifted by stock analysts at HC Wainwright from $45.00 to $47.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price target points to a potential upside of 118.40% from the company’s previous close.

Several other brokerages also recently issued reports on SNDX. Stifel Nicolaus increased their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Bank of America increased their price target on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lowered their price target on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. UBS Group began coverage on Syndax Pharmaceuticals in a report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price target for the company. Finally, Citigroup increased their price target on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $35.82.

Syndax Pharmaceuticals Trading Up 0.8 %

NASDAQ SNDX opened at $21.52 on Wednesday. The stock has a 50-day simple moving average of $19.09 and a 200 day simple moving average of $20.33. The company has a market capitalization of $1.83 billion, a PE ratio of -6.37 and a beta of 0.92. Syndax Pharmaceuticals has a 12 month low of $13.14 and a 12 month high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The company had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same quarter in the prior year, the company posted ($0.73) EPS. As a group, sell-side analysts predict that Syndax Pharmaceuticals will post -3.66 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in Syndax Pharmaceuticals by 54.3% during the second quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock valued at $8,806,000 after purchasing an additional 151,021 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Syndax Pharmaceuticals by 18.9% during the second quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company’s stock valued at $5,991,000 after purchasing an additional 46,463 shares during the last quarter. Renaissance Technologies LLC boosted its position in Syndax Pharmaceuticals by 170.9% during the second quarter. Renaissance Technologies LLC now owns 214,300 shares of the company’s stock valued at $4,400,000 after purchasing an additional 135,200 shares during the last quarter. Nvwm LLC acquired a new position in Syndax Pharmaceuticals during the first quarter valued at approximately $1,022,000. Finally, First Turn Management LLC acquired a new position in Syndax Pharmaceuticals during the second quarter valued at approximately $13,147,000.

Syndax Pharmaceuticals Company Profile

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).