Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) have earned an average rating of “Buy” from the six research firms that are covering the firm. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $25.00.
A number of analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of Syndax Pharmaceuticals in a research note on Friday. They set a “buy” rating for the company. Zacks Investment Research raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th.
Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) traded down 3.55% during mid-day trading on Friday, hitting $15.22. 28,589 shares of the stock were exchanged. Syndax Pharmaceuticals has a 12 month low of $8.97 and a 12 month high of $18.03. The stock’s market cap is $270.64 million. The stock’s 50 day moving average is $14.33 and its 200-day moving average is $13.47.
Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Tuesday, August 9th. The company reported ($0.47) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.07. On average, analysts anticipate that Syndax Pharmaceuticals will post ($3.01) EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in SNDX. BlackRock Inc. increased its stake in Syndax Pharmaceuticals by 0.6% in the second quarter. BlackRock Inc. now owns 44,851 shares of the company’s stock valued at $442,000 after buying an additional 256 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Syndax Pharmaceuticals by 13.8% in the second quarter. Kornitzer Capital Management Inc. KS now owns 45,500 shares of the company’s stock worth $448,000 after buying an additional 5,500 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of Syndax Pharmaceuticals during the second quarter worth approximately $100,000. BlackRock Investment Management LLC increased its position in shares of Syndax Pharmaceuticals by 99.4% in the second quarter. BlackRock Investment Management LLC now owns 36,068 shares of the company’s stock worth $355,000 after buying an additional 17,982 shares in the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new position in shares of Syndax Pharmaceuticals during the second quarter worth approximately $229,000. Hedge funds and other institutional investors own 57.64% of the company’s stock.
About Syndax Pharmaceuticals
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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