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Syndax Pharmaceuticals (NASDAQ:SNDX) Earns Buy Rating from Analysts at The Goldman Sachs Group

Syndax Pharmaceuticals logo with Medical background

Equities researchers at The Goldman Sachs Group assumed coverage on shares of Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) in a research report 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 price objective points to a potential upside of 83.30% from the stock's previous close.

SNDX has been the subject of a number of other research reports. Wall Street Zen upgraded Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday, May 6th. Scotiabank upped 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. JPMorgan Chase & Co. upped their price objective on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Finally, Guggenheim reiterated a "buy" rating and issued a $32.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.30.

Check Out Our Latest Research Report on Syndax Pharmaceuticals

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ:SNDX traded up $0.58 during trading on Thursday, hitting $9.82. 2,341,075 shares of the stock were exchanged, compared to its average volume of 1,855,835. Syndax Pharmaceuticals has a 1-year low of $8.58 and a 1-year high of $25.07. The company has a market capitalization of $845.01 million, a price-to-earnings ratio of -2.54 and a beta of 0.70. The company's fifty day simple moving average is $10.13 and its 200-day simple moving average is $12.33. The company has a debt-to-equity ratio of 1.53, a quick ratio of 5.75 and a current ratio of 5.80.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.06. The company 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%. Syndax Pharmaceuticals's revenue for the quarter was up 1900.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.85) EPS. Sell-side analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Quarry LP bought a new stake in shares of Syndax Pharmaceuticals in the 1st quarter valued at about $25,000. Virtus ETF Advisers LLC raised its stake in 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 buying an additional 827 shares during the period. Magnetar Financial LLC acquired a new position in Syndax Pharmaceuticals during the 1st quarter worth approximately $132,000. Optimize Financial Inc acquired a new position in Syndax Pharmaceuticals during the 4th quarter worth approximately $152,000. Finally, Lazard Asset Management LLC purchased a new stake in shares of Syndax Pharmaceuticals in the fourth quarter worth approximately $153,000.

About Syndax Pharmaceuticals

(Get Free Report)

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).

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Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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