Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded by B. Riley to Strong-Buy Rating

Key Points

• Syndax Pharmaceuticals' stock rating has been upgraded to a "strong-buy" by B. Riley, reflecting positive sentiment from analysts.
• The company reported significant growth in quarterly revenue, achieving $37.96 million, which is up 984.5% year-over-year.
• Despite a negative earnings report of ($0.83) per share, Syndax's share price performance and recent analyst upgrades indicate a consensus rating of "Moderate Buy".

B. Riley upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX - Free Report) to a strong-buy rating in a research report released on Wednesday morning,Zacks.com reports. B. Riley also issued estimates for Syndax Pharmaceuticals' Q3 2025 earnings at ($0.68) EPS, Q4 2025 earnings at ($0.51) EPS, FY2025 earnings at ($2.99) EPS, FY2026 earnings at ($1.16) EPS and FY2027 earnings at $0.12 EPS.

A number of other equities analysts have also commented on SNDX. BTIG Research boosted their price target on shares of Syndax Pharmaceuticals from $43.00 to $56.00 and gave the company a "buy" rating in a research report on Tuesday, August 5th. Guggenheim restated a "buy" rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th. Scotiabank increased their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. Wall Street Zen upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. Finally, Citigroup boosted their price objective on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.91.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX traded down $0.18 on Wednesday, hitting $12.31. The stock had a trading volume of 1,117,257 shares, compared to its average volume of 2,221,006. Syndax Pharmaceuticals has a one year low of $8.58 and a one year high of $22.50. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of -3.16 and a beta of 0.74. The company's 50-day moving average is $10.08 and its two-hundred day moving average is $11.87.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its earnings results on Monday, August 4th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.01) by $0.18. The company had revenue of $37.96 million during the quarter, compared to the consensus estimate of $26.64 million. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The company's revenue was up 984.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.80) EPS. On average, analysts expect that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 7,534 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total transaction of $69,990.86. Following the transaction, the chief executive officer owned 298,661 shares in the company, valued at approximately $2,774,560.69. This represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds have recently bought and sold shares of SNDX. Knott David M Jr boosted its position in Syndax Pharmaceuticals by 175.6% in the 2nd quarter. Knott David M Jr now owns 352,778 shares of the company's stock valued at $3,304,000 after buying an additional 224,778 shares during the period. Candriam S.C.A. grew its position in shares of Syndax Pharmaceuticals by 49.9% in the second quarter. Candriam S.C.A. now owns 675,085 shares of the company's stock valued at $6,322,000 after purchasing an additional 224,650 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Syndax Pharmaceuticals by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,049,350 shares of the company's stock valued at $19,195,000 after purchasing an additional 26,365 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $439,000. Finally, Fox Run Management L.L.C. purchased a new position in Syndax Pharmaceuticals during the second quarter worth approximately $172,000.

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).