Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Stock Has Consensus Price Target of $41.80 According to Analysts

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned an average rating of “Moderate Buy” from the eleven ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $41.80.

A number of brokerages have recently issued reports on SNDX. Bank of America reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. Jefferies Financial Group reissued a “buy” rating and set a $35.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, September 29th. Weiss Ratings raised shares of Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. HC Wainwright reissued a “buy” rating on shares of Syndax Pharmaceuticals in a report on Thursday, October 1st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ SNDX opened at $16.99 on Friday. Syndax Pharmaceuticals has a 12-month low of $12.99 and a 12-month high of $25.59. The firm’s 50-day simple moving average is $19.03 and its 200 day simple moving average is $20.52. The company has a quick ratio of 6.44, a current ratio of 6.77 and a debt-to-equity ratio of 38.95. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -6.77 and a beta of 0.42.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.10). The company had revenue of $72.79 million during the quarter, compared to analyst estimates of $79.36 million. Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. The company’s revenue was up 91.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.83) EPS. On average, research analysts expect that Syndax Pharmaceuticals will post -2.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Allworth Financial LP acquired a new position in shares of Syndax Pharmaceuticals during the second quarter valued at $26,000. Nykredit A S bought a new position in Syndax Pharmaceuticals in the second quarter valued at about $72,000. Integrated Wealth Concepts LLC bought a new position in Syndax Pharmaceuticals in the second quarter valued at about $73,000. Allianz Asset Management GmbH acquired a new stake in Syndax Pharmaceuticals in the second quarter worth about $203,000. Finally, Pallas Capital Advisors LLC acquired a new stake in Syndax Pharmaceuticals in the second quarter worth about $207,000.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company’s research programs target biological pathways involved in malignancy and immune-related conditions, with an emphasis on medicines that may address significant unmet medical needs.

Syndax’s lead product, Revuforj (revumenib), is an oral menin inhibitor approved by the U.S. Food and Drug Administration for treating relapsed or refractory acute leukemia with a KMT2A translocation in adults and pediatric patients aged one year and older.