Syndax Pharmaceuticals (NASDAQ:SNDX) Coverage Initiated by Analysts at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group started coverage on shares of Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) in a research note issued on Thursday, MarketBeat.com reports. The brokerage set a "buy" rating and a $18.00 price target on the stock. The Goldman Sachs Group's target price would indicate a potential upside of 86.88% from the company's previous close.

A number of other equities analysts also recently commented on the company. Scotiabank lifted their target price on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price 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 reiterated a "buy" rating and set a $32.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 6th. Finally, Wall Street Zen upgraded Syndax Pharmaceuticals to a "sell" rating in a research report on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $34.30.

Syndax Pharmaceuticals Trading Down 1.9%

Shares of NASDAQ SNDX traded down $0.19 during trading on Thursday, hitting $9.63. 716,429 shares of the company traded hands, compared to its average volume of 2,184,615. Syndax Pharmaceuticals has a 1 year low of $8.58 and a 1 year high of $25.07. The company has a 50-day moving average price of $10.13 and a 200-day moving average price of $12.33. The firm has a market capitalization of $828.83 million, a P/E ratio of -2.50 and a beta of 0.70. The company has a quick ratio of 5.75, a current ratio of 5.80 and a debt-to-equity ratio of 1.53.

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

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tang Capital Management LLC bought a new stake in Syndax Pharmaceuticals during the fourth quarter worth approximately $1,322,000. Polar Asset Management Partners Inc. bought a new stake in Syndax Pharmaceuticals during the fourth quarter worth approximately $1,124,000. Jump Financial LLC raised its holdings in Syndax Pharmaceuticals by 80.8% during the fourth quarter. Jump Financial LLC now owns 173,890 shares of the company's stock worth $2,299,000 after purchasing an additional 77,699 shares in the last quarter. Simplify Asset Management Inc. raised its holdings in Syndax Pharmaceuticals by 20.8% during the fourth quarter. Simplify Asset Management Inc. now owns 147,641 shares of the company's stock worth $1,952,000 after purchasing an additional 25,456 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Syndax Pharmaceuticals by 7.5% during the 4th quarter. Northern Trust Corp now owns 792,750 shares of the company's stock valued at $10,480,000 after purchasing an additional 55,144 shares during the period.

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).