Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Average Recommendation of "Moderate Buy" from Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the ten ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $34.10.

Several equities research analysts have issued reports on the company. Scotiabank lifted their price objective on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. The Goldman Sachs Group started coverage on Syndax Pharmaceuticals in a research report on Thursday, July 10th. They issued a "buy" rating and a $18.00 target price for the company. UBS Group decreased their target price on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday. Wall Street Zen upgraded Syndax Pharmaceuticals to a "sell" rating in a research report on Tuesday, May 6th. Finally, Guggenheim reiterated a "buy" rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in Syndax Pharmaceuticals during the 1st quarter valued at $25,000. Virtus ETF Advisers LLC raised its stake in shares of Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after buying an additional 827 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Syndax Pharmaceuticals in the 1st quarter worth $132,000. Optimize Financial Inc bought a new stake in shares of Syndax Pharmaceuticals in the 4th quarter worth $152,000. Finally, Lazard Asset Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the 4th quarter worth $153,000.

Syndax Pharmaceuticals Stock Down 0.3%

SNDX stock traded down $0.03 during midday trading on Wednesday, hitting $9.64. 56,499 shares of the company's stock were exchanged, compared to its average volume of 1,856,544. The company has a current ratio of 5.80, a quick ratio of 5.75 and a debt-to-equity ratio of 1.53. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $25.07. The firm has a 50 day moving average price of $9.91 and a 200-day moving average price of $12.21. The stock has a market capitalization of $829.35 million, a price-to-earnings ratio of -2.49 and a beta of 0.70.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.06. Syndax Pharmaceuticals had a negative return on equity of 101.60% and a negative net margin of 757.53%. The company had revenue of $20.04 million for the quarter, compared to the consensus estimate of $15.88 million. During the same period in the previous year, the business earned ($0.85) EPS. Syndax Pharmaceuticals's revenue for the quarter was up 1900.0% compared to the same quarter last year. On average, analysts anticipate that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).