Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a sell rating to a hold rating in a research report released on Friday.

Several other equities analysts have also commented on the stock. UBS Group initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, October 24th. They set a “buy” rating and a $37.00 price target for the company. HC Wainwright upped their price objective on Syndax Pharmaceuticals from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday. Citigroup lifted their price objective on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Barclays increased their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Finally, Stifel Nicolaus upped their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Syndax Pharmaceuticals Stock Down 5.7 %

Syndax Pharmaceuticals stock traded down $0.96 during mid-day trading on Friday, reaching $15.83. 5,049,785 shares of the company’s stock were exchanged, compared to its average volume of 1,128,477. Syndax Pharmaceuticals has a twelve month low of $14.50 and a twelve month high of $25.34. The company has a market cap of $1.35 billion, a P/E ratio of -4.36 and a beta of 0.92. The company has a fifty day moving average of $18.94 and a 200-day moving average of $20.25.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $9.16 million. During the same quarter last year, the business posted ($0.73) earnings per share. Equities research analysts expect that Syndax Pharmaceuticals will post -3.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of SNDX. Assenagon Asset Management S.A. grew its position in shares of Syndax Pharmaceuticals by 54.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock valued at $8,806,000 after buying an additional 151,021 shares during the last quarter. Simplify Asset Management Inc. increased 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 worth $2,352,000 after acquiring an additional 46,992 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Syndax Pharmaceuticals by 18.9% in 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 boosted its holdings in Syndax Pharmaceuticals by 170.9% during the 2nd quarter. Renaissance Technologies LLC now owns 214,300 shares of the company’s stock worth $4,400,000 after acquiring an additional 135,200 shares during the last quarter. Finally, First Turn Management LLC purchased a new position in shares of Syndax Pharmaceuticals in the 2nd quarter worth approximately $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).