Analysts Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) PT at $35.91

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been assigned a consensus recommendation of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $35.91.

Several brokerages have weighed in on SNDX. Citigroup reduced their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Guggenheim reiterated a “buy” rating and set a $32.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Finally, Scotiabank increased their price target on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a “sector perform” rating in a research note on Tuesday, May 6th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new position in Syndax Pharmaceuticals in the 1st quarter worth about $25,000. Virtus ETF Advisers LLC boosted its position in shares of Syndax Pharmaceuticals by 18.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock valued at $70,000 after acquiring an additional 827 shares during the period. Cape Investment Advisory Inc. boosted its position in shares of Syndax Pharmaceuticals by 157.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company’s stock valued at $85,000 after acquiring an additional 3,927 shares during the period. Magnetar Financial LLC bought a new position in shares of Syndax Pharmaceuticals in the first quarter valued at approximately $132,000. Finally, Optimize Financial Inc bought a new position in Syndax Pharmaceuticals in the 4th quarter valued at $152,000.

Syndax Pharmaceuticals Price Performance

SNDX opened at $8.90 on Friday. The firm has a market cap of $765.85 million, a P/E ratio of -2.31 and a beta of 0.74. The firm has a 50-day moving average of $10.97 and a 200 day moving average of $12.68. The company has a debt-to-equity ratio of 1.53, a quick ratio of 5.75 and a current ratio of 5.80. Syndax Pharmaceuticals has a fifty-two week low of $8.58 and a fifty-two week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.04) by $0.06. Syndax Pharmaceuticals had a negative net margin of 757.53% and a negative return on equity of 101.60%. The firm had revenue of $20.04 million during the quarter, compared to the consensus estimate of $15.88 million. During the same period in the prior year, the firm earned ($0.85) EPS. The company’s revenue was up 1900.0% compared to the same quarter last year. On average, research analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

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).