Syndax Pharmaceuticals’ (SNDX) “Buy” Rating Reaffirmed at HC Wainwright

Syndax Pharmaceuticals (NASDAQ:SNDX)‘s stock had its “buy” rating reaffirmed by equities research analysts at HC Wainwright in a note issued to investors on Friday, Benzinga reports. They presently have a $41.00 price objective on the stock. HC Wainwright’s price target would indicate a potential upside of 99.32% from the stock’s current price.

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

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $20.57 on Friday. The stock’s fifty day moving average price is $22.69 and its two-hundred day moving average price is $19.50. Syndax Pharmaceuticals has a 52-week low of $11.22 and a 52-week high of $25.34. The company has a market cap of $1.75 billion, a price-to-earnings ratio of -6.95 and a beta of 1.03.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data 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 period in the previous year, the business earned ($0.62) earnings per share. On average, equities analysts predict that Syndax Pharmaceuticals will post -3.7 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Diversified Trust Co acquired a new stake in shares of Syndax Pharmaceuticals in the first quarter valued at approximately $369,000. Kingdon Capital Management L.L.C. acquired a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $16,127,000. Vanguard Group Inc. raised its position in Syndax Pharmaceuticals by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 4,335,353 shares of the company’s stock valued at $93,687,000 after purchasing an additional 718,051 shares in the last quarter. Virtu Financial LLC acquired a new position in Syndax Pharmaceuticals during the fourth quarter valued at approximately $258,000. Finally, Parkman Healthcare Partners LLC raised its position in Syndax Pharmaceuticals by 247.7% during the fourth quarter. Parkman Healthcare Partners LLC now owns 738,589 shares of the company’s stock valued at $15,961,000 after purchasing an additional 526,141 shares in the last quarter.

About Syndax Pharmaceuticals

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).