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

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.

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

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).