Syndax Pharmaceuticals (NASDAQ:SNDX) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a report published on Friday morning, Benzinga reports. They currently have a $41.00 target price on the stock.

Other research analysts have also recently issued reports about the stock. Scotiabank cut shares of Syndax Pharmaceuticals from a sector outperform rating to a sector perform rating and reduced their price objective for the company from $36.00 to $23.00 in a report on Wednesday, January 31st. JPMorgan Chase & Co. lifted their price objective on shares of Syndax Pharmaceuticals from $31.00 to $34.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Finally, StockNews.com upgraded shares of Syndax Pharmaceuticals to a sell rating in a report on Friday, January 19th. 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 company’s stock. Based on data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of Moderate Buy and a consensus target price of $34.42.

Syndax Pharmaceuticals Trading Up 2.4 %

SNDX opened at $21.06 on Friday. Syndax Pharmaceuticals has a 1-year low of $11.22 and a 1-year high of $25.34. The company has a market cap of $1.79 billion, a P/E ratio of -7.11 and a beta of 1.03. The company has a fifty day moving average price of $22.67 and a two-hundred day moving average price of $19.56.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.01). During the same quarter in the previous year, the company earned ($0.62) EPS. On average, research analysts forecast that Syndax Pharmaceuticals will post -3.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. boosted its stake in Syndax Pharmaceuticals by 97.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,782 shares of the company’s stock valued at $26,000 after acquiring an additional 880 shares during the last quarter. CWM LLC boosted its stake in Syndax Pharmaceuticals by 415.3% in the fourth quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after acquiring an additional 1,358 shares during the last quarter. MeadowBrook Investment Advisors LLC purchased a new position in Syndax Pharmaceuticals in the fourth quarter valued at about $37,000. Quadrant Capital Group LLC boosted its stake in Syndax Pharmaceuticals by 158.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $53,000 after acquiring an additional 1,496 shares during the last quarter. Finally, Annandale Capital LLC purchased a new position in Syndax Pharmaceuticals in the third quarter valued at about $67,000.

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).