ValuEngine downgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a buy rating to a hold rating in a research report sent to investors on Wednesday.

A number of other equities analysts have also recently commented on the stock. Morgan Stanley cut shares of Syndax Pharmaceuticals from an overweight rating to an equal weight rating and set a $6.00 target price on the stock. in a research report on Monday, October 29th. HC Wainwright decreased their price objective on shares of Syndax Pharmaceuticals to $23.00 and set a buy rating on the stock in a research report on Friday, October 26th. Citigroup decreased their price objective on shares of Syndax Pharmaceuticals from $15.00 to $12.00 and set a buy rating on the stock in a research report on Thursday, October 11th. Finally, Zacks Investment Research cut shares of Syndax Pharmaceuticals from a buy rating to a hold rating in a research report on Wednesday, October 10th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $17.45.

NASDAQ:SNDX traded down $0.05 during trading hours on Wednesday, reaching $5.42. The company’s stock had a trading volume of 285,165 shares, compared to its average volume of 413,410. The stock has a market cap of $134.11 million, a PE ratio of -1.87 and a beta of 2.63. Syndax Pharmaceuticals has a 1 year low of $4.36 and a 1 year high of $15.20.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Monday, November 5th. The company reported ($0.68) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.08. The company had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $0.38 million. Syndax Pharmaceuticals had a negative net margin of 3,185.75% and a negative return on equity of 91.11%. On average, equities research analysts predict that Syndax Pharmaceuticals will post -2.95 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company increased its position in shares of Syndax Pharmaceuticals by 266.9% in the first quarter. The Manufacturers Life Insurance Company now owns 10,566 shares of the company’s stock valued at $151,000 after acquiring an additional 7,686 shares during the period. Rhumbline Advisers purchased a new position in shares of Syndax Pharmaceuticals in the second quarter valued at about $103,000. DRW Securities LLC purchased a new position in shares of Syndax Pharmaceuticals in the second quarter valued at about $105,000. Claraphi Advisory Network LLC purchased a new position in shares of Syndax Pharmaceuticals in the third quarter valued at about $129,000. Finally, Bank of America Corp DE increased its position in shares of Syndax Pharmaceuticals by 1,382.0% in the second quarter. Bank of America Corp DE now owns 28,084 shares of the company’s stock valued at $197,000 after acquiring an additional 26,189 shares during the period. Hedge funds and other institutional investors own 64.38% of the company’s stock.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapies for various cancer indications. The company's lead product candidate is Entinostat, which is in Phase 3 clinical trial for the treatment of hormone receptor positive or HR+, human epidermal growth factor receptor 2 negative or HER2-, and breast cancer; and Phase 1b/2 clinical trial.

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