Scotiabank Cuts Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $16.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price cut by Scotiabank from $18.00 to $16.00 in a report published on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities analysts also recently issued reports on the company. Citigroup raised their price target on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. Stifel Nicolaus increased their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. StockNews.com lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Finally, JPMorgan Chase & Co. increased their price target on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $36.20.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $13.11 on Wednesday. Syndax Pharmaceuticals has a one year low of $12.40 and a one year high of $25.34. The stock has a 50-day moving average of $15.53 and a 200 day moving average of $18.60. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of -3.61 and a beta of 0.89.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping 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 firm earned ($0.73) earnings per share. On average, equities analysts predict that Syndax Pharmaceuticals will post -2.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Syndax Pharmaceuticals during the second quarter worth about $27,000. Values First Advisors Inc. purchased a new stake in Syndax Pharmaceuticals during the 3rd quarter valued at approximately $30,000. Quantbot Technologies LP bought a new stake in shares of Syndax Pharmaceuticals during the third quarter valued at approximately $49,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Syndax Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after buying an additional 541 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Syndax Pharmaceuticals by 75.0% during the second quarter. Quarry LP now owns 6,125 shares of the company’s stock worth $126,000 after acquiring an additional 2,625 shares during the last quarter.

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).