Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Stock Now Rated "Moderate Buy" by Sell-Side Analysts

Key Points

• Syndax Pharmaceuticals has a “Moderate Buy” consensus rating from 11 analysts, with 10 buys and one sell. The average 12-month price target is $41.80, well above the stock’s reported $16.90 price.
• Several firms reaffirmed positive views, although JPMorgan lowered its price target from $44 to $40. Institutional investors including Allianz Asset Management and Pallas Capital Advisors also recently initiated positions.
• Syndax’s latest quarterly results fell short of expectations, with an adjusted loss of $0.55 per share versus the $0.45 consensus and revenue of $72.79 million versus $79.36 million expected. Revenue nevertheless rose 91.8% year over year, supported by the company’s cancer drug portfolio led by Revuforj.

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the eleven ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $41.80.

A number of research firms recently commented on SNDX. JPMorgan Chase & Co. decreased their price objective on Syndax Pharmaceuticals from $44.00 to $40.00 and set an "overweight" rating on the stock in a report on Tuesday, August 11th. Weiss Ratings upgraded Syndax Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, October 2nd. UBS Group reissued a "buy" rating on shares of Syndax Pharmaceuticals in a research report on Thursday, October 1st. Jefferies Financial Group restated a "buy" rating and issued a $35.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, September 29th. Finally, Bank of America reissued a "buy" rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, August 5th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at $26,000. Nykredit A S purchased a new stake in Syndax Pharmaceuticals during the second quarter worth about $72,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Syndax Pharmaceuticals during the second quarter worth about $73,000. Allianz Asset Management GmbH acquired a new stake in shares of Syndax Pharmaceuticals during the second quarter worth about $203,000. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Syndax Pharmaceuticals in the second quarter valued at approximately $207,000.

Syndax Pharmaceuticals Trading Down 0.8%

Shares of Syndax Pharmaceuticals stock opened at $16.90 on Friday. The company has a debt-to-equity ratio of 38.95, a current ratio of 6.77 and a quick ratio of 6.44. The stock's 50 day simple moving average is $19.07 and its 200-day simple moving average is $20.57. The stock has a market cap of $1.50 billion, a P/E ratio of -6.73 and a beta of 0.42. Syndax Pharmaceuticals has a 1-year low of $12.99 and a 1-year high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) earnings per share for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.The company had revenue of $72.79 million for the quarter, compared to analyst estimates of $79.36 million. During the same period last year, the firm posted ($0.83) EPS. The business's quarterly revenue was up 91.8% on a year-over-year basis. Analysts predict that Syndax Pharmaceuticals will post -2.03 EPS for the current fiscal year.

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.

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