AlphaQuest LLC Has $913,000 Holdings in Syndax Pharmaceuticals, Inc. $SNDX

AlphaQuest LLC raised its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 183.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,341 shares of the company’s stock after buying an additional 38,394 shares during the quarter. AlphaQuest LLC owned 0.07% of Syndax Pharmaceuticals worth $913,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SNDX. Lazard Asset Management LLC acquired a new position in shares of Syndax Pharmaceuticals during the 2nd quarter worth about $66,000. Tower Research Capital LLC TRC grew its holdings in Syndax Pharmaceuticals by 103.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after purchasing an additional 4,308 shares during the period. Prudential Financial Inc. acquired a new position in Syndax Pharmaceuticals during the second quarter valued at approximately $97,000. Raymond James Financial Inc. bought a new stake in Syndax Pharmaceuticals in the second quarter valued at approximately $103,000. Finally, Corton Capital Inc. acquired a new stake in Syndax Pharmaceuticals in the second quarter worth $167,000.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SNDX. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. Wall Street Zen lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday, January 11th. JPMorgan Chase & Co. lowered their price target on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, November 12th. BTIG Research reiterated a “buy” rating and set a $56.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, December 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.20.

Syndax Pharmaceuticals Stock Up 5.1%

SNDX stock opened at $21.35 on Tuesday. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.64 and a quick ratio of 4.42. The stock has a market capitalization of $1.86 billion, a P/E ratio of -5.91 and a beta of 0.46. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.58 and a fifty-two week high of $22.73. The business has a 50-day moving average of $20.60 and a 200-day moving average of $16.76.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Monday, November 3rd. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.The firm had revenue of $45.87 million for the quarter, compared to analysts’ expectations of $49.08 million. During the same quarter in the previous year, the business posted ($0.98) EPS. The business’s quarterly revenue was up 266.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Syndax Pharmaceuticals Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.