The Goldman Sachs Group Begins Coverage on Syndax Pharmaceuticals (NASDAQ:SNDX)

The Goldman Sachs Group assumed coverage on shares of Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) in a report released on Thursday, MarketBeat reports. The firm set a "buy" rating and a $18.00 price target on the stock. The Goldman Sachs Group's price target would suggest a potential upside of 87.70% from the company's previous close.

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

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ:SNDX traded down $0.23 during trading hours on Thursday, hitting $9.59. The stock had a trading volume of 1,505,827 shares, compared to its average volume of 1,861,644. The stock's fifty day simple moving average is $10.05 and its 200 day simple moving average is $12.29. Syndax Pharmaceuticals has a 1-year low of $8.58 and a 1-year high of $25.07. The firm has a market capitalization of $825.22 million, a price-to-earnings ratio of -2.48 and a beta of 0.70. 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 posted its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.04) by $0.06. The business 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 business's revenue was up 1900.0% on a year-over-year basis. During the same period last year, the firm posted ($0.85) earnings per share. Sell-side analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several large investors have recently made changes to their positions in SNDX. Quarry LP bought a new stake in Syndax Pharmaceuticals during the first quarter worth approximately $25,000. Virtus ETF Advisers LLC grew its stake in Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock valued at $70,000 after buying an additional 827 shares during the last quarter. Magnetar Financial LLC acquired a new position in Syndax Pharmaceuticals in the 1st quarter valued at $132,000. Optimize Financial Inc acquired a new position in Syndax Pharmaceuticals in the 4th quarter valued at $152,000. Finally, Lazard Asset Management LLC acquired a new position in Syndax Pharmaceuticals in the 4th quarter valued at $153,000.

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).