HC Wainwright Forecasts Strong Price Appreciation for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price upped by HC Wainwright from $47.00 to $49.00 in a research note released on Tuesday morning,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on SNDX. Bank of America lifted their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price target for the company. Citigroup raised their price target on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, August 16th. JPMorgan Chase & Co. reduced their price target on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Barclays raised their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Syndax Pharmaceuticals Stock Performance

SNDX stock opened at $15.83 on Tuesday. The company has a fifty day moving average price of $18.94 and a 200-day moving average price of $20.25. The company has a market capitalization of $1.35 billion, a P/E ratio of -4.36 and a beta of 0.92. Syndax Pharmaceuticals has a 52-week low of $14.50 and a 52-week high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.16 million. During the same period in the previous year, the business posted ($0.73) EPS. As a group, sell-side analysts forecast that Syndax Pharmaceuticals will post -3.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its position in shares of Syndax Pharmaceuticals by 54.3% during the second quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock valued at $8,806,000 after purchasing an additional 151,021 shares in the last quarter. Simplify Asset Management Inc. lifted its position in shares of Syndax Pharmaceuticals by 62.5% during the third quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock valued at $2,352,000 after purchasing an additional 46,992 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Syndax Pharmaceuticals by 18.9% during the second quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company’s stock valued at $5,991,000 after purchasing an additional 46,463 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Syndax Pharmaceuticals by 170.9% during the second quarter. Renaissance Technologies LLC now owns 214,300 shares of the company’s stock valued at $4,400,000 after purchasing an additional 135,200 shares in the last quarter. Finally, First Turn Management LLC bought a new position in shares of Syndax Pharmaceuticals during the second quarter valued at about $13,147,000.

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).