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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) have received a consensus rating of "Moderate Buy" from the eleven research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $35.91.

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

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock traded up $0.03 during midday trading on Friday, hitting $9.22. 2,865,381 shares of the company's stock were exchanged, compared to its average volume of 1,811,127. The firm's 50 day simple moving average is $11.06 and its 200 day simple moving average is $12.73. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $25.07. The company has a debt-to-equity ratio of 1.53, a quick ratio of 5.75 and a current ratio of 5.80. The stock has a market cap of $793.38 million, a price-to-earnings ratio of -2.39 and a beta of 0.74.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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. Syndax Pharmaceuticals had a negative return on equity of 101.60% and a negative net margin of 757.53%. The business's revenue was up 1900.0% on a year-over-year basis. During the same quarter last year, the company posted ($0.85) earnings per share. Equities research analysts predict that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of SNDX. Quarry LP acquired a new stake in shares of Syndax Pharmaceuticals during the first quarter valued at $25,000. Virtus ETF Advisers LLC boosted its stake in shares of Syndax Pharmaceuticals by 18.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after purchasing an additional 827 shares during the last quarter. Cape Investment Advisory Inc. grew its holdings in shares of Syndax Pharmaceuticals by 157.1% during the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock worth $85,000 after buying an additional 3,927 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Syndax Pharmaceuticals in the first quarter valued at approximately $132,000. Finally, Optimize Financial Inc purchased a new position in shares of Syndax Pharmaceuticals during the fourth quarter valued at approximately $152,000.

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).