Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $36.20 Average PT from Analysts

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $36.20.

A number of equities analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Stifel Nicolaus raised their target price on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a report on Monday, October 14th. Scotiabank lowered their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, The Goldman Sachs Group upped their target price on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX opened at $14.25 on Wednesday. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -3.93 and a beta of 0.89. The firm’s fifty day moving average price is $14.39 and its 200 day moving average price is $18.10. Syndax Pharmaceuticals has a 1-year low of $12.06 and a 1-year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating the consensus estimate of ($1.13) by $0.15. The firm had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $9.16 million. During the same period in the previous year, the firm earned ($0.73) EPS. As a group, analysts expect that Syndax Pharmaceuticals will post -3.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Syndax Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after acquiring an additional 541 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in Syndax Pharmaceuticals in the 2nd quarter valued at about $27,000. Values First Advisors Inc. purchased a new position in Syndax Pharmaceuticals in the 3rd quarter valued at about $30,000. China Universal Asset Management Co. Ltd. boosted its stake in shares of Syndax Pharmaceuticals by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company’s stock worth $239,000 after purchasing an additional 1,732 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth about $26,000.

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).