Syndax Pharmaceuticals (NASDAQ:SNDX) Rating Increased to Buy at BidaskClub

Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, BidAskClub reports.

Several other analysts have also commented on the company. Nomura reissued a “buy” rating and issued a $31.00 price objective on shares of Syndax Pharmaceuticals in a report on Monday, May 25th. Citigroup raised Syndax Pharmaceuticals from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $26.00 to $23.00 in a report on Friday, May 22nd. Barclays dropped their price objective on Syndax Pharmaceuticals from $25.00 to $23.00 and set an “overweight” rating on the stock in a report on Friday, May 22nd. HC Wainwright lowered Syndax Pharmaceuticals from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $15.00 in a report on Friday, May 22nd. Finally, Zacks Investment Research lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. Syndax Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $21.11.

Syndax Pharmaceuticals stock opened at $17.48 on Tuesday. The firm has a market cap of $673.84 million, a price-to-earnings ratio of -9.55 and a beta of 1.77. Syndax Pharmaceuticals has a 52 week low of $5.35 and a 52 week high of $21.97. The business’s 50-day moving average price is $15.70 and its 200 day moving average price is $14.25. The company has a quick ratio of 15.39, a current ratio of 15.39 and a debt-to-equity ratio of 0.14.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Thursday, August 6th. The company reported ($0.42) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.05. Syndax Pharmaceuticals had a negative return on equity of 91.09% and a negative net margin of 4,155.11%. The firm had revenue of $0.38 million for the quarter. Equities analysts expect that Syndax Pharmaceuticals will post -1.82 EPS for the current year.

Large investors have recently modified their holdings of the company. Citigroup Inc. boosted its stake in shares of Syndax Pharmaceuticals by 32.9% in the first quarter. Citigroup Inc. now owns 5,503 shares of the company’s stock worth $60,000 after acquiring an additional 1,362 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Syndax Pharmaceuticals by 109.9% in the second quarter. Bank of Montreal Can now owns 3,962 shares of the company’s stock worth $61,000 after acquiring an additional 2,074 shares during the last quarter. BNP Paribas Arbitrage SA lifted its position in Syndax Pharmaceuticals by 131.3% during the first quarter. BNP Paribas Arbitrage SA now owns 6,449 shares of the company’s stock worth $71,000 after buying an additional 3,661 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in Syndax Pharmaceuticals during the second quarter worth approximately $84,000. Finally, AQR Capital Management LLC purchased a new position in Syndax Pharmaceuticals during the first quarter worth approximately $118,000. 84.71% of the stock is currently owned by hedge funds and other institutional investors.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. The company's lead product candidates include entinostat, which is in Phase III clinical trials for the treatment of advanced hormone receptor positive (HR+) and human epidermal growth factor receptor 2 negative (HER2-) breast cancer; and SNDX-5613 inhibitor that targets the binding interaction of Menin with mixed lineage leukemia-rearranged and acute myeloid leukemia with a mutated nucleophosmin 1.

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Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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