Syndax Pharmaceuticals’ (SNDX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a research report sent to investors on Wednesday, Benzinga reports. The brokerage currently has a $41.00 target price on the stock.

Other research analysts also recently issued reports about the company. JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $31.00 to $34.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Mizuho assumed coverage on Syndax Pharmaceuticals in a report on Friday, December 22nd. They issued a buy rating and a $45.00 price target for the company. Scotiabank downgraded Syndax Pharmaceuticals from a sector outperform rating to a sector perform rating and cut their price target for the company from $36.00 to $23.00 in a report on Wednesday, January 31st. Finally, StockNews.com upgraded Syndax Pharmaceuticals to a sell rating in a report on Friday, January 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine 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 $34.42.

Syndax Pharmaceuticals Stock Performance

SNDX stock opened at $23.07 on Wednesday. Syndax Pharmaceuticals has a 1 year low of $11.22 and a 1 year high of $25.34. The stock’s 50 day moving average price is $22.34 and its 200 day moving average price is $18.55. The firm has a market cap of $1.96 billion, a P/E ratio of -7.79 and a beta of 1.03.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Tuesday, February 27th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.99) by ($0.01). During the same quarter in the previous year, the firm earned ($0.62) earnings per share. On average, research analysts predict that Syndax Pharmaceuticals will post -3.7 earnings per share for the current year.

Institutional Trading of Syndax Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. increased its holdings in shares of Syndax Pharmaceuticals by 97.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,782 shares of the company’s stock worth $26,000 after buying an additional 880 shares during the last quarter. CWM LLC increased its holdings in Syndax Pharmaceuticals by 415.3% in the 4th quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after purchasing an additional 1,358 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new stake in Syndax Pharmaceuticals in the 4th quarter valued at $37,000. Point72 Hong Kong Ltd acquired a new stake in Syndax Pharmaceuticals in the 1st quarter valued at $41,000. Finally, Quadrant Capital Group LLC increased its holdings in Syndax Pharmaceuticals by 158.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $53,000 after purchasing an additional 1,496 shares in the last quarter.

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).