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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) has been given an average rating of "Moderate Buy" by the eleven research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $35.91.

Several brokerages recently issued reports on SNDX. JPMorgan Chase & Co. increased their price objective on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Guggenheim reiterated a "buy" rating and issued a $32.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. Scotiabank increased their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 6th. HC Wainwright reiterated a "buy" rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Finally, Citigroup cut their target price on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th.

Syndax Pharmaceuticals Trading Up 1.9%

Shares of NASDAQ SNDX traded up $0.19 during midday trading on Tuesday, reaching $10.12. The company's stock had a trading volume of 1,823,791 shares, compared to its average volume of 1,782,005. Syndax Pharmaceuticals has a one year low of $8.58 and a one year high of $25.07. The company has a 50 day moving average price of $11.61 and a 200 day moving average price of $13.56. The company has a market cap of $870.80 million, a price-to-earnings ratio of -2.79 and a beta of 0.82.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.06. The firm had revenue of $20.04 million for the quarter, compared to analyst estimates of $15.88 million. During the same period last year, the firm earned ($0.85) earnings per share. Syndax Pharmaceuticals's revenue for the quarter was up 1900.0% compared to the same quarter last year. Research analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Soleus Capital Management L.P. boosted its stake in shares of Syndax Pharmaceuticals by 128.4% in the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company's stock valued at $32,944,000 after purchasing an additional 1,401,016 shares during the last quarter. Sphera Funds Management LTD. boosted its holdings in shares of Syndax Pharmaceuticals by 33.5% in the fourth quarter. Sphera Funds Management LTD. now owns 1,381,241 shares of the company's stock valued at $18,260,000 after buying an additional 346,395 shares during the period. Granahan Investment Management LLC increased its holdings in Syndax Pharmaceuticals by 36.2% during the 4th quarter. Granahan Investment Management LLC now owns 905,322 shares of the company's stock worth $11,968,000 after purchasing an additional 240,557 shares in the last quarter. Octagon Capital Advisors LP acquired a new stake in Syndax Pharmaceuticals in the 4th quarter valued at approximately $11,951,000. Finally, Algert Global LLC grew its stake in shares of Syndax Pharmaceuticals by 12.6% during the 1st quarter. Algert Global LLC now owns 884,600 shares of the company's stock worth $10,867,000 after acquiring an additional 98,968 shares in the last quarter.

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).