Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $34.42 Average PT from Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been given an average rating of “Moderate Buy” by the ten research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $34.42.

Several research analysts have weighed in on the company. StockNews.com upgraded Syndax Pharmaceuticals to a “sell” rating in a research note on Friday, January 19th. HC Wainwright reiterated a “buy” rating and issued a $41.00 target price on shares of Syndax Pharmaceuticals in a research note on Wednesday, March 27th. Scotiabank downgraded Syndax Pharmaceuticals from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the company from $36.00 to $23.00 in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. raised 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.

Syndax Pharmaceuticals Trading Down 0.9 %

Shares of SNDX stock opened at $20.79 on Monday. The business’s 50 day moving average is $22.74 and its two-hundred day moving average is $19.49. Syndax Pharmaceuticals has a twelve month low of $11.22 and a twelve month high of $25.34. The company has a market capitalization of $1.77 billion, a P/E ratio of -7.02 and a beta of 1.03.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Tuesday, February 27th. The company reported ($1.00) earnings per share for the quarter, missing the consensus estimate of ($0.99) by ($0.01). During the same quarter in the prior year, the firm posted ($0.62) earnings per share. As a group, equities analysts predict that Syndax Pharmaceuticals will post -3.7 earnings per share for the current fiscal year.

Institutional Trading of Syndax Pharmaceuticals

A number of institutional investors have recently modified their holdings of SNDX. BVF Inc. IL purchased a new stake in Syndax Pharmaceuticals during the fourth quarter worth $40,519,000. Avoro Capital Advisors LLC boosted its position in Syndax Pharmaceuticals by 65.2% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock worth $91,242,000 after purchasing an additional 1,666,667 shares in the last quarter. Kynam Capital Management LP boosted its position in Syndax Pharmaceuticals by 41.5% during the fourth quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company’s stock worth $122,313,000 after purchasing an additional 1,660,000 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Syndax Pharmaceuticals during the fourth quarter worth $29,236,000. Finally, Avidity Partners Management LP boosted its position in Syndax Pharmaceuticals by 40.0% during the fourth quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock worth $85,360,000 after purchasing an additional 1,129,000 shares in the last quarter.

Syndax Pharmaceuticals Company Profile

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).