Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $37.20.

A number of analysts recently commented on SNDX shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th. BTIG Research reiterated a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Barclays increased their price target on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. JPMorgan Chase & Co. lowered their price objective on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Finally, Wall Street Zen cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock opened at $20.15 on Friday. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.64 and a quick ratio of 4.42. The firm has a 50-day moving average of $20.66 and a 200-day moving average of $16.89. Syndax Pharmaceuticals has a one year low of $8.58 and a one year high of $22.73. The company has a market cap of $1.75 billion, a P/E ratio of -5.58 and a beta of 0.46.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative net margin of 279.31% and a negative return on equity of 160.60%. The business had revenue of $45.87 million during the quarter, compared to the consensus estimate of $49.08 million. During the same period in the prior year, the firm posted ($0.98) EPS. The firm’s quarterly revenue was up 266.4% compared to the same quarter last year. Equities research analysts forecast that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Institutional Trading of Syndax Pharmaceuticals

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Syndax Pharmaceuticals by 21.2% during the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after acquiring an additional 1,091,717 shares during the period. Bank of America Corp DE boosted its position in Syndax Pharmaceuticals by 33.7% during the second quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after purchasing an additional 967,873 shares during the period. Kingdon Capital Management L.L.C. increased its stake in shares of Syndax Pharmaceuticals by 19.0% in the third quarter. Kingdon Capital Management L.L.C. now owns 2,500,000 shares of the company’s stock worth $38,462,000 after purchasing an additional 400,000 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Syndax Pharmaceuticals by 1.3% in the third quarter. Franklin Resources Inc. now owns 2,390,561 shares of the company’s stock valued at $36,779,000 after purchasing an additional 30,884 shares during the period. Finally, Stempoint Capital LP lifted its stake in shares of Syndax Pharmaceuticals by 48.4% during the 2nd quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock valued at $22,220,000 after buying an additional 774,040 shares in the last quarter.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.