Syndax Pharmaceuticals (NASDAQ:SNDX) Earns Buy Rating from HC Wainwright

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at HC Wainwright in a report issued on Tuesday, Benzinga reports. They presently have a $38.00 price objective on the stock. HC Wainwright's price objective would suggest a potential upside of 129.61% from the company's current price.

A number of other equities analysts also recently issued reports on the company. Bank of America reaffirmed a "buy" rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. Weiss Ratings raised Syndax Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, October 2nd. Jefferies Financial Group reissued a "buy" rating and issued a $35.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, September 29th. JPMorgan Chase & Co. decreased their price target on Syndax Pharmaceuticals from $44.00 to $40.00 and set an "overweight" rating for the company in a report on Tuesday, August 11th. Finally, UBS Group reaffirmed a "buy" rating on shares of Syndax Pharmaceuticals in a report on Thursday, October 1st. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $41.80.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX opened at $16.55 on Tuesday. The stock has a 50 day moving average price of $18.98 and a 200 day moving average price of $20.47. 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 capitalization of $1.47 billion, a price-to-earnings ratio of -6.59 and a beta of 0.42. Syndax Pharmaceuticals has a 52-week low of $12.99 and a 52-week high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.10). The business 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 business's revenue for the quarter was up 91.8% compared to the same quarter last year. During the same period last year, the company earned ($0.83) earnings per share. Research analysts predict that Syndax Pharmaceuticals will post -2.03 EPS for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently made changes to their positions in SNDX. Tidal Investments LLC raised its stake in Syndax Pharmaceuticals by 10.5% in the 2nd quarter. Tidal Investments LLC now owns 72,212 shares of the company's stock valued at $1,579,000 after purchasing an additional 6,886 shares during the last quarter. WINTON GROUP Ltd raised its stake in Syndax Pharmaceuticals by 642.7% in the 2nd quarter. WINTON GROUP Ltd now owns 76,500 shares of the company's stock valued at $1,672,000 after purchasing an additional 66,200 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new position in Syndax Pharmaceuticals in the 2nd quarter valued at about $73,000. Squarepoint Ops LLC raised its stake in Syndax Pharmaceuticals by 104.0% in the 2nd quarter. Squarepoint Ops LLC now owns 370,317 shares of the company's stock valued at $8,095,000 after purchasing an additional 188,765 shares during the last quarter. Finally, Arizona State Retirement System raised its stake in Syndax Pharmaceuticals by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 23,120 shares of the company's stock valued at $505,000 after purchasing an additional 642 shares during the last quarter.

Syndax Pharmaceuticals News Roundup

Here are the key news stories impacting Syndax Pharmaceuticals this week:

• Positive Sentiment: Axatilimab was well tolerated in the MAXPIRe trial, with a safety profile comparable to placebo and no new safety signals. The drug remains in multiple cGVHD trials, with results expected later this year and in early 2028. Syndax Announces Topline Results from MAXPIRe Phase 2 Trial
• Neutral Sentiment: The Phase 2 MAXPIRe study evaluated axatilimab in IPF, a progressive lung disease. Syndax reported topline results but did not provide evidence that the treatment improved the trial’s primary lung-function measure. Syndax Announces MAXPIRe Topline Results
• Negative Sentiment: MAXPIRe failed to meet its primary endpoint, the annualized rate of decline in forced vital capacity (FVC). Syndax is ending development of axatilimab in IPF, eliminating a potential indication and likely reducing the drug’s long-term revenue opportunity. Syndax MAXPIRe Trial Misses Primary Endpoint
• Negative Sentiment: The trial failure triggered a sharp selloff as investors reassessed Syndax’s pipeline value and became more dependent on the company’s cGVHD programs for future growth. The setback is particularly important because Syndax remains loss-making and has reported quarterly revenue below analyst expectations. Syndax IPF Trial Misses Endpoint

About Syndax Pharmaceuticals

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.