Syndax Pharmaceuticals Inc (SNDX) Receives $15.67 Average PT from Brokerages

Syndax Pharmaceuticals Inc (NASDAQ:SNDX) has been given a consensus recommendation of “Buy” by the nine analysts that are presently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $15.67.

A number of research firms have recently commented on SNDX. Zacks Investment Research downgraded shares of Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, May 10th. ValuEngine upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, April 2nd. BTIG Research reduced their price objective on shares of Syndax Pharmaceuticals to $19.00 and set a “buy” rating for the company in a research note on Friday, March 8th. B. Riley set a $26.00 price objective on shares of Syndax Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, March 8th. Finally, HC Wainwright restated a “buy” rating and set a $16.00 price objective (down from $22.00) on shares of Syndax Pharmaceuticals in a research note on Friday, March 8th. They noted that the move was a valuation call.

In other news, CEO Briggs Morrison bought 20,400 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was acquired at an average cost of $7.46 per share, for a total transaction of $152,184.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.90% of the company’s stock.

Large investors have recently modified their holdings of the stock. Oxford Asset Management LLP boosted its stake in shares of Syndax Pharmaceuticals by 49.4% in the 1st quarter. Oxford Asset Management LLP now owns 136,423 shares of the company’s stock valued at $716,000 after purchasing an additional 45,084 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Syndax Pharmaceuticals by 2.3% in the 1st quarter. Wellington Management Group LLP now owns 3,317,872 shares of the company’s stock valued at $17,419,000 after purchasing an additional 76,090 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Syndax Pharmaceuticals by 28.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 37,217 shares of the company’s stock valued at $196,000 after purchasing an additional 8,335 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Syndax Pharmaceuticals by 37.3% in the 1st quarter. Renaissance Technologies LLC now owns 314,600 shares of the company’s stock valued at $1,652,000 after purchasing an additional 85,500 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its stake in shares of Syndax Pharmaceuticals by 30.6% in the 1st quarter. State of Wisconsin Investment Board now owns 18,800 shares of the company’s stock valued at $99,000 after purchasing an additional 4,400 shares in the last quarter. Institutional investors and hedge funds own 62.64% of the company’s stock.

Shares of NASDAQ SNDX opened at $7.44 on Monday. The firm has a market capitalization of $208.64 million, a P/E ratio of -2.55 and a beta of 2.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.24 and a quick ratio of 6.24. Syndax Pharmaceuticals has a 1-year low of $3.39 and a 1-year high of $9.15.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Monday, May 6th. The company reported ($0.53) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.03. Syndax Pharmaceuticals had a negative net margin of 4,539.55% and a negative return on equity of 107.48%. The firm had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.38 million. Sell-side analysts expect that Syndax Pharmaceuticals will post -1.98 earnings per share for the current year.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. The company's lead product candidates include entinostat, which is in Phase III clinical trials for the treatment of advanced hormone receptor positive (HR+) and human epidermal growth factor receptor 2 negative (HER2-) breast cancer; and SNDX-5613 inhibitor that targets the binding interaction of Menin with mixed lineage leukemia-rearranged and acute myeloid leukemia with a mutated nucleophosmin 1.

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Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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