Syndax Pharmaceuticals Inc (SNDX) Receives Average Rating of “Buy” from Analysts

Syndax Pharmaceuticals Inc (NASDAQ:SNDX) has been assigned a consensus rating of “Buy” from the seven research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $31.33.

A number of analysts recently issued reports on SNDX shares. Zacks Investment Research downgraded shares of Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. HC Wainwright began coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, July 12th. They set a “buy” rating and a $30.00 price objective for the company. Finally, ValuEngine upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, July 6th.

Shares of NASDAQ SNDX opened at $7.11 on Wednesday. Syndax Pharmaceuticals has a 1 year low of $6.10 and a 1 year high of $15.20. The firm has a market cap of $158.11 million, a P/E ratio of -2.45 and a beta of 1.29.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, August 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.87) by $0.13. Syndax Pharmaceuticals had a negative net margin of 3,190.51% and a negative return on equity of 80.35%. The firm had revenue of $0.38 million for the quarter, compared to the consensus estimate of $0.38 million. analysts anticipate that Syndax Pharmaceuticals will post -3.12 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its position in Syndax Pharmaceuticals by 266.9% during the first quarter. The Manufacturers Life Insurance Company now owns 10,566 shares of the company’s stock worth $151,000 after acquiring an additional 7,686 shares during the period. Sofinnova Ventures Inc acquired a new position in Syndax Pharmaceuticals during the first quarter worth $173,000. Rhumbline Advisers acquired a new position in Syndax Pharmaceuticals during the second quarter worth $103,000. DRW Securities LLC acquired a new position in Syndax Pharmaceuticals during the second quarter worth $105,000. Finally, JPMorgan Chase & Co. raised its position in Syndax Pharmaceuticals by 5.3% during the first quarter. JPMorgan Chase & Co. now owns 426,941 shares of the company’s stock worth $6,075,000 after acquiring an additional 21,581 shares during the period. Institutional investors own 64.20% of the company’s stock.

Syndax Pharmaceuticals Company Profile

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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