Syndax Pharmaceuticals Inc. (SNDX) Receives Average Recommendation of “Buy” from Brokerages
Shares of Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) have earned an average rating of “Buy” from the six brokerages that are presently covering the stock. One investment analyst has rated the stock with a sell recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $25.25.
A number of equities research analysts have issued reports on SNDX shares. Zacks Investment Research raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, July 20th. Guggenheim started coverage on Syndax Pharmaceuticals in a research report on Friday, October 7th. They issued a “buy” rating and a $29.00 price target on the stock. Finally, JMP Securities reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, November 9th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. acquired a new position in Syndax Pharmaceuticals during the second quarter worth approximately $100,000. Parametric Portfolio Associates LLC acquired a new position in Syndax Pharmaceuticals during the second quarter worth approximately $229,000. Alps Advisors Inc. acquired a new position in Syndax Pharmaceuticals during the second quarter worth approximately $246,000. Bank of New York Mellon Corp acquired a new position in Syndax Pharmaceuticals during the third quarter worth approximately $253,000. Finally, Morgan Stanley increased its position in Syndax Pharmaceuticals by 746.9% in the third quarter. Morgan Stanley now owns 17,937 shares of the company’s stock worth $272,000 after buying an additional 15,819 shares during the last quarter. Institutional investors and hedge funds own 56.67% of the company’s stock.
Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) opened at 9.84 on Friday. The company’s 50 day moving average price is $13.19 and its 200-day moving average price is $13.07. Syndax Pharmaceuticals has a 12-month low of $8.97 and a 12-month high of $18.03. The firm’s market cap is $174.97 million.
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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