Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Rating Reaffirmed by HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a report released on Friday, Benzinga reports. HC Wainwright currently has a $41.00 price target on the stock.

A number of other research firms have also weighed in on SNDX. StockNews.com upgraded shares of Syndax Pharmaceuticals to a sell rating in a research report on Friday, January 19th. Scotiabank downgraded shares of Syndax Pharmaceuticals from a sector outperform rating to a sector perform rating and lowered their target price for the company from $36.00 to $23.00 in a report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of Syndax Pharmaceuticals from $31.00 to $34.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of Moderate Buy and a consensus target price of $34.42.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ:SNDX opened at $21.28 on Friday. Syndax Pharmaceuticals has a one year low of $11.22 and a one year high of $25.34. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of -7.19 and a beta of 1.03. The company has a 50-day simple moving average of $22.64 and a 200-day simple moving average of $19.72.

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

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its holdings in Syndax Pharmaceuticals by 47.6% during the third quarter. Assenagon Asset Management S.A. now owns 390,538 shares of the company’s stock worth $5,671,000 after purchasing an additional 125,893 shares during the last quarter. Hudson Bay Capital Management LP boosted its position in shares of Syndax Pharmaceuticals by 160.2% in the 3rd quarter. Hudson Bay Capital Management LP now owns 1,236,186 shares of the company’s stock worth $17,949,000 after buying an additional 761,186 shares in the last quarter. Wellington Management Group LLP increased its holdings in Syndax Pharmaceuticals by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 7,642,446 shares of the company’s stock valued at $110,968,000 after acquiring an additional 198,262 shares in the last quarter. Qube Research & Technologies Ltd raised its position in Syndax Pharmaceuticals by 57.8% during the third quarter. Qube Research & Technologies Ltd now owns 206,394 shares of the company’s stock worth $2,997,000 after acquiring an additional 75,636 shares during the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of Syndax Pharmaceuticals by 326.6% in the third quarter. Jump Financial LLC now owns 154,786 shares of the company’s stock valued at $2,247,000 after purchasing an additional 118,500 shares in the last quarter.

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).