Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Average Rating of "Buy" from Analysts

Thursday, April 8, 2021 | MarketBeat

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been assigned a consensus rating of "Buy" from the twelve research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $28.55.

SNDX has been the topic of a number of recent research reports. B. Riley initiated coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, February 18th. They issued a "buy" rating and a $30.00 price objective on the stock. Zacks Investment Research cut shares of Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Friday, March 12th.

Several large investors have recently modified their holdings of the stock. Avidity Partners Management LP raised its holdings in shares of Syndax Pharmaceuticals by 78.4% during the fourth quarter. Avidity Partners Management LP now owns 3,308,000 shares of the company's stock worth $73,570,000 after acquiring an additional 1,453,900 shares during the period. BlackRock Inc. raised its holdings in shares of Syndax Pharmaceuticals by 23.7% during the fourth quarter. BlackRock Inc. now owns 2,320,406 shares of the company's stock worth $51,607,000 after acquiring an additional 444,048 shares during the period. Frazier Management LLC raised its holdings in shares of Syndax Pharmaceuticals by 6.4% during the fourth quarter. Frazier Management LLC now owns 1,405,045 shares of the company's stock worth $31,248,000 after acquiring an additional 85,000 shares during the period. Ghost Tree Capital LLC raised its holdings in shares of Syndax Pharmaceuticals by 217.6% during the fourth quarter. Ghost Tree Capital LLC now owns 1,350,000 shares of the company's stock worth $30,024,000 after acquiring an additional 925,000 shares during the period. Finally, Nantahala Capital Management LLC acquired a new stake in Syndax Pharmaceuticals in the 3rd quarter valued at $19,759,000. Institutional investors and hedge funds own 83.78% of the company's stock.

Shares of SNDX stock opened at $22.32 on Thursday. Syndax Pharmaceuticals has a 52-week low of $8.75 and a 52-week high of $27.85. The stock has a market cap of $1.08 billion, a PE ratio of -11.87 and a beta of 1.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 11.71 and a current ratio of 11.71. The firm's 50 day moving average price is $23.42 and its two-hundred day moving average price is $21.33.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Sunday, March 7th. The company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.49) by $0.05. Syndax Pharmaceuticals had a negative net margin of 4,656.63% and a negative return on equity of 77.47%. As a group, sell-side analysts predict that Syndax Pharmaceuticals will post -1.85 earnings per share for the current fiscal year.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. The company's lead product candidates are entinostat that is in Phase III clinical trials for the treatment of advanced hormone receptor positive (HR+), human epidermal growth factor receptor 2 negative (HER2-) breast cancer; and SNDX-5613 in Phase I/II clinical trial inhibitor that targets the binding interaction of Menin with mixed lineage leukemia-rearranged and acute myeloid leukemia with a mutated nucleophosmin 1.

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Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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