Syndax Pharmaceuticals (SNDX) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a hold rating to a buy rating in a research note issued to investors on Thursday morning. Zacks Investment Research currently has $6.00 price target on the stock.

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. “

A number of other analysts have also commented on the company. ValuEngine lowered Syndax Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, November 7th. Morgan Stanley lowered Syndax Pharmaceuticals from an overweight rating to an equal weight rating and set a $6.00 price target on the stock. in a report on Monday, October 29th. HC Wainwright dropped their price target on Syndax Pharmaceuticals to $23.00 and set a buy rating on the stock in a report on Friday, October 26th. Finally, Citigroup dropped their price target on Syndax Pharmaceuticals from $15.00 to $12.00 and set a buy rating on the stock in a report on Thursday, October 11th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $17.40.

Shares of SNDX stock traded up $0.01 during trading hours on Thursday, reaching $4.77. The company had a trading volume of 5,009 shares, compared to its average volume of 218,939. Syndax Pharmaceuticals has a 12 month low of $4.36 and a 12 month high of $15.20. The firm has a market capitalization of $122.69 million, a PE ratio of -1.64 and a beta of 2.65.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, November 5th. The company reported ($0.68) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.76) by $0.08. Syndax Pharmaceuticals had a negative return on equity of 91.11% and a negative net margin of 3,185.75%. The company had revenue of $0.38 million for the quarter, compared to analyst estimates of $0.38 million. On average, research analysts expect that Syndax Pharmaceuticals will post -2.87 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. Rhumbline Advisers bought a new stake in Syndax Pharmaceuticals during the second quarter worth $103,000. DRW Securities LLC purchased a new stake in Syndax Pharmaceuticals in the second quarter worth $105,000. Claraphi Advisory Network LLC purchased a new stake in Syndax Pharmaceuticals in the third quarter worth $129,000. Bank of America Corp DE increased its position in Syndax Pharmaceuticals by 1,382.0% in the second quarter. Bank of America Corp DE now owns 28,084 shares of the company’s stock worth $197,000 after buying an additional 26,189 shares during the last quarter. Finally, Spark Investment Management LLC purchased a new stake in Syndax Pharmaceuticals in the second quarter worth $198,000. Institutional investors and hedge funds own 61.75% of the company’s stock.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc is a clinical stage biopharmaceutical company, which engages in the development of cancer therapies. Its products include candidate and entinostat. The company was founded by Richard A. Heyman, Eckard Weber, Peter Ordentlich, Ronald M. Evans and Michael Downes on October 11, 2005 and is headquartered in Waltham, MA.

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