B. Riley initiated coverage on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a research note released on Tuesday, The Fly reports. The brokerage issued a buy rating and a $40.00 price target on the stock.

Several other research analysts have also recently issued reports on SNDX. Zacks Investment Research cut shares of Syndax Pharmaceuticals from a buy rating to a hold rating in a report on Thursday, September 13th. Citigroup cut their target price on shares of Syndax Pharmaceuticals from $15.00 to $12.00 and set a buy rating for the company in a research report on Thursday, October 11th. HC Wainwright cut their target price on shares of Syndax Pharmaceuticals to $23.00 and set a buy rating for the company in a research report on Friday, October 26th. Morgan Stanley lowered shares of Syndax Pharmaceuticals from an overweight rating to an equal weight rating and set a $6.00 target price for the company. in a research report on Monday, October 29th. Finally, ValuEngine upgraded shares of Syndax Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, November 1st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $16.25.

Syndax Pharmaceuticals stock traded up $0.77 during trading hours on Tuesday, hitting $6.59. The stock had a trading volume of 21,715 shares, compared to its average volume of 254,938. The stock has a market capitalization of $141.81 million, a PE ratio of -2.27 and a beta of 2.14. Syndax Pharmaceuticals has a 12-month low of $3.39 and a 12-month high of $15.20.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Monday, November 5th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.08. The business had revenue of $0.38 million during 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, research analysts forecast that Syndax Pharmaceuticals will post -2.89 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers bought a new position in Syndax Pharmaceuticals during the second quarter valued at $103,000. DRW Securities LLC bought a new position in shares of Syndax Pharmaceuticals in the second quarter worth about $105,000. Claraphi Advisory Network LLC bought a new position in shares of Syndax Pharmaceuticals in the third quarter worth about $129,000. Bank of America Corp DE grew its holdings 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 worth $197,000 after purchasing an additional 26,189 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Syndax Pharmaceuticals by 11.8% in the third quarter. TIAA CREF Investment Management LLC now owns 33,312 shares of the company’s stock worth $269,000 after purchasing an additional 3,503 shares during the last quarter. 61.75% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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