Syndax Pharmaceuticals (SNDX) Cut to “Hold” at ValuEngine
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.
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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