Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm currently has a $9.50 price target on the stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.79% from the company’s current price.
According to Zacks, “Syndax Pharmaceuticals, Inc. is a biopharmaceutical company which focused on the development and commercialization of entinostat, an epigenetic therapy for treatment-resistant cancers. The Company’s product pipeline includes ENCORE 601, ENCORE 602, J1353, NCI-7870, NCI-9844, E2112, NCI-8871 and NCI-9253 which are in clinical trial stage. Syndax Pharmaceuticals, Inc. is based in WALTHAM, United States. “
Other equities analysts also recently issued research reports about the stock. B. Riley set a $14.00 price objective on shares of Syndax Pharmaceuticals and gave the company a “buy” rating in a research note on Wednesday, October 9th. ValuEngine upgraded shares of Syndax Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Friday, January 3rd. Cowen restated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Friday, November 8th. Finally, HC Wainwright restated a “buy” rating and issued a $17.00 price objective (up previously from $15.00) on shares of Syndax Pharmaceuticals in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Syndax Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $13.42.
Shares of Syndax Pharmaceuticals stock traded up $0.04 during trading hours on Tuesday, reaching $8.73. 14,423 shares of the company were exchanged, compared to its average volume of 92,526. Syndax Pharmaceuticals has a 1 year low of $4.52 and a 1 year high of $11.11. The stock’s fifty day moving average is $8.38 and its 200 day moving average is $8.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.09 and a current ratio of 4.09. The firm has a market cap of $233.68 million, a PE ratio of -2.99 and a beta of 2.46.
Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.48) by $0.07. Syndax Pharmaceuticals had a negative return on equity of 110.20% and a negative net margin of 4,013.45%. The business had revenue of $0.38 million for the quarter, compared to analyst estimates of $0.38 million. Research analysts expect that Syndax Pharmaceuticals will post -1.9 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in SNDX. Bank of Montreal Can bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter worth about $36,000. JPMorgan Chase & Co. raised its holdings in shares of Syndax Pharmaceuticals by 52.5% in the second quarter. JPMorgan Chase & Co. now owns 5,522 shares of the company’s stock valued at $50,000 after purchasing an additional 1,902 shares during the last quarter. Ibex Investors LLC acquired a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at approximately $103,000. Algert Global LLC acquired a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at approximately $148,000. Finally, Bluefin Trading LLC acquired a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at approximately $161,000. Institutional investors own 63.16% of the company’s stock.
About Syndax Pharmaceuticals
Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. The company's lead product candidates include entinostat, which is in Phase III clinical trials for the treatment of advanced hormone receptor positive (HR+) and human epidermal growth factor receptor 2 negative (HER2-) breast cancer; and SNDX-5613 inhibitor that targets the binding interaction of Menin with mixed lineage leukemia-rearranged and acute myeloid leukemia with a mutated nucleophosmin 1.
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