Brokerages Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Target Price at $35.91

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) have received an average recommendation of "Moderate Buy" from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $35.91.

SNDX has been the topic of several research reports. Wall Street Zen raised Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Guggenheim reissued a "buy" rating and issued a $32.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. Finally, Citigroup cut their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th.

Syndax Pharmaceuticals Stock Down 0.5%

NASDAQ:SNDX traded down $0.05 during trading hours on Tuesday, hitting $10.57. 1,808,471 shares of the stock were exchanged, compared to its average volume of 1,785,806. The company's 50 day moving average is $11.49 and its two-hundred day moving average is $13.42. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $25.07. The company has a market capitalization of $909.52 million, a P/E ratio of -2.91 and a beta of 0.82.

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. The firm had revenue of $20.04 million for the quarter, compared to analyst estimates of $15.88 million. During the same period in the prior year, the company posted ($0.85) EPS. The firm's quarterly revenue was up 1900.0% compared to the same quarter last year. On average, equities research analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SNDX. Soleus Capital Management L.P. raised its stake in Syndax Pharmaceuticals by 128.4% during the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company's stock worth $32,944,000 after buying an additional 1,401,016 shares during the period. Octagon Capital Advisors LP acquired a new stake in Syndax Pharmaceuticals during the 4th quarter worth $11,951,000. Renaissance Technologies LLC acquired a new stake in Syndax Pharmaceuticals during the 4th quarter worth $9,002,000. Trexquant Investment LP raised its stake in Syndax Pharmaceuticals by 1,309.7% during the 4th quarter. Trexquant Investment LP now owns 471,292 shares of the company's stock worth $6,230,000 after buying an additional 437,859 shares during the period. Finally, Altium Capital Management LLC acquired a new stake in Syndax Pharmaceuticals during the 4th quarter worth $4,891,000.

About Syndax Pharmaceuticals

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).