Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $35.33 Consensus Price Target from Analysts

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $35.33.

Several research firms have recently weighed in on SNDX. JPMorgan Chase & Co. decreased their price objective on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. HC Wainwright increased their price target on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Bank of America boosted their price objective on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Scotiabank cut Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Jefferies Financial Group initiated coverage on Syndax Pharmaceuticals in a research note on Friday, June 28th. They issued a “buy” rating and a $37.00 price target on the stock.

Syndax Pharmaceuticals Trading Down 1.4 %

NASDAQ SNDX opened at $18.02 on Thursday. The firm has a market capitalization of $1.53 billion, a PE ratio of -5.60 and a beta of 0.91. The business’s 50-day moving average price is $20.34 and its two-hundred day moving average price is $21.04. Syndax Pharmaceuticals has a 12 month low of $11.22 and a 12 month high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Thursday, August 1st. The company reported ($0.80) EPS for the quarter, beating the consensus estimate of ($0.91) by $0.11. The company had revenue of $3.50 million during the quarter. During the same quarter in the previous year, the firm earned ($0.64) EPS. Syndax Pharmaceuticals’s revenue was up 3499999990.0% compared to the same quarter last year. As a group, analysts forecast that Syndax Pharmaceuticals will post -3.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of large investors have recently modified their holdings of SNDX. Kynam Capital Management LP raised its holdings 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 buying an additional 1,660,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Syndax Pharmaceuticals by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock worth $117,262,000 after acquiring an additional 591,631 shares during the last quarter. Avoro Capital Advisors LLC lifted its position in Syndax Pharmaceuticals by 65.2% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock valued at $91,242,000 after acquiring an additional 1,666,667 shares in the last quarter. Avidity Partners Management LP boosted its stake in Syndax Pharmaceuticals by 40.0% during the 4th quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock valued at $85,360,000 after purchasing an additional 1,129,000 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in Syndax Pharmaceuticals by 35.3% during the 4th quarter. Point72 Asset Management L.P. now owns 2,834,499 shares of the company’s stock worth $61,254,000 after purchasing an additional 740,298 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).