Syndax Pharmaceuticals (SNDX) Lifted to “Hold” at ValuEngine

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ValuEngine upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a sell rating to a hold rating in a research report report published on Thursday morning.

A number of other brokerages also recently issued reports on SNDX. Zacks Investment Research raised Syndax Pharmaceuticals from a hold rating to a buy rating and set a $5.50 price target on the stock in a report on Saturday, December 15th. Nomura upped their price target on Syndax Pharmaceuticals to $16.00 and gave the company a buy rating in a report on Friday, March 8th. B. Riley set a $26.00 price target on Syndax Pharmaceuticals and gave the company a buy rating in a report on Friday, March 8th. Finally, BTIG Research lowered their price target on Syndax Pharmaceuticals to $19.00 and set a buy rating on the stock in a report on Friday, March 8th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $14.07.

Shares of NASDAQ:SNDX traded down $0.17 during midday trading on Thursday, reaching $4.72. 712 shares of the company’s stock traded hands, compared to its average volume of 151,895. The company has a market cap of $122.25 million, a P/E ratio of -1.63 and a beta of 2.41. Syndax Pharmaceuticals has a one year low of $3.39 and a one year high of $15.20.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.02). The business had revenue of $0.38 million for the quarter, compared to the consensus estimate of $0.38 million. Syndax Pharmaceuticals had a negative net margin of 4,875.48% and a negative return on equity of 107.73%. On average, sell-side analysts expect that Syndax Pharmaceuticals will post -2.12 EPS for the current year.

A number of hedge funds have recently bought and sold shares of SNDX. Geode Capital Management LLC lifted its stake in shares of Syndax Pharmaceuticals by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 180,199 shares of the company’s stock worth $801,000 after acquiring an additional 6,768 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Syndax Pharmaceuticals by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 810,184 shares of the company’s stock worth $3,605,000 after purchasing an additional 14,417 shares during the period. Sofinnova Investments Inc. increased its holdings in Syndax Pharmaceuticals by 102.2% during the 4th quarter. Sofinnova Investments Inc. now owns 350,110 shares of the company’s stock worth $1,558,000 after purchasing an additional 176,998 shares during the period. 683 Capital Management LLC increased its holdings in Syndax Pharmaceuticals by 157.7% during the 4th quarter. 683 Capital Management LLC now owns 1,342,839 shares of the company’s stock worth $5,976,000 after purchasing an additional 821,839 shares during the period. Finally, Paloma Partners Management Co purchased a new position in Syndax Pharmaceuticals during the 4th quarter worth $56,000. 61.88% of the stock is currently owned by institutional investors.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapies for various cancer indications. The company's lead product candidate is Entinostat, which is in Phase 3 clinical trial for the treatment of hormone receptor positive or HR+, human epidermal growth factor receptor 2 negative or HER2-, and breast cancer; and Phase 1b/2 clinical trial.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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