Zacks Investment Research Upgrades Syndax Pharmaceuticals (SNDX) to Buy
Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The firm presently has a $6.25 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 15.31% from the stock’s previous close.
According to Zacks, “Syndax Pharmaceuticals, Inc. is a biopharmaceutical company which focused on the development and commercialization of entinostat, an epigenetic therapy for treatment-resistant cancers. The Company’s product pipeline includes ENCORE 601, ENCORE 602, J1353, NCI-7870, NCI-9844, E2112, NCI-8871 and NCI-9253 which are in clinical trial stage. Syndax Pharmaceuticals, Inc. is based in WALTHAM, United States. “
Several other equities analysts have also issued reports on the company. Citigroup decreased their price objective on Syndax Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, October 11th. Morgan Stanley lowered Syndax Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $6.00 price objective for the company. in a research report on Monday, October 29th. HC Wainwright decreased their price objective on Syndax Pharmaceuticals to $23.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Finally, ValuEngine upgraded Syndax Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $17.45.
Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Monday, November 5th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.08. Syndax Pharmaceuticals had a negative return on equity of 91.11% and a negative net margin of 3,185.75%. The business had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.38 million. Research analysts anticipate that Syndax Pharmaceuticals will post -2.95 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. DRW Securities LLC bought a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at approximately $105,000. GSA Capital Partners LLP bought a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at approximately $368,000. 683 Capital Management LLC lifted its stake in Syndax Pharmaceuticals by 32.4% in the 2nd quarter. 683 Capital Management LLC now owns 375,000 shares of the company’s stock valued at $2,633,000 after acquiring an additional 91,770 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Syndax Pharmaceuticals by 40.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 558,725 shares of the company’s stock valued at $3,922,000 after acquiring an additional 161,146 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in Syndax Pharmaceuticals by 433.3% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 70,140 shares of the company’s stock valued at $492,000 after acquiring an additional 56,988 shares in the last quarter. Hedge funds and other institutional investors own 64.38% of the company’s stock.
About Syndax Pharmaceuticals
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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