Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Stock Has Average Target Price of $41.80 According to Analysts

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received a consensus rating of “Moderate Buy” from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and ten have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $41.80.

A number of analysts recently issued reports on SNDX shares. Weiss Ratings raised shares of Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, October 2nd. UBS Group restated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Thursday, October 1st. Jefferies Financial Group restated a “buy” rating and issued a $35.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, September 29th. Bank of America reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $38.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SNDX. Arizona State Retirement System grew its stake in Syndax Pharmaceuticals by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 23,120 shares of the company’s stock valued at $505,000 after acquiring an additional 642 shares during the period. Wellington Management Group LLP increased its stake in shares of Syndax Pharmaceuticals by 0.5% during the second quarter. Wellington Management Group LLP now owns 124,241 shares of the company’s stock worth $2,716,000 after purchasing an additional 655 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Syndax Pharmaceuticals by 3.2% during the first quarter. Hsbc Holdings PLC now owns 23,461 shares of the company’s stock worth $556,000 after purchasing an additional 730 shares in the last quarter. Allworth Financial LP acquired a new stake in Syndax Pharmaceuticals in the 2nd quarter worth about $26,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Syndax Pharmaceuticals by 11.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 19,564 shares of the company’s stock worth $467,000 after buying an additional 2,002 shares during the last quarter.

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock opened at $13.65 on Friday. The company has a debt-to-equity ratio of 38.95, a quick ratio of 6.44 and a current ratio of 6.77. Syndax Pharmaceuticals has a 12 month low of $12.99 and a 12 month high of $25.59. The stock’s 50 day simple moving average is $18.63 and its two-hundred day simple moving average is $20.25.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). The firm had revenue of $72.79 million for the quarter, compared to analyst estimates of $79.36 million. Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%. Syndax Pharmaceuticals’s revenue for the quarter was up 91.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.83) EPS. On average, equities analysts expect that Syndax Pharmaceuticals will post -2.01 earnings per share for the current year.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company’s research programs target biological pathways involved in malignancy and immune-related conditions, with an emphasis on medicines that may address significant unmet medical needs.

Syndax’s lead product, Revuforj (revumenib), is an oral menin inhibitor approved by the U.S. Food and Drug Administration for treating relapsed or refractory acute leukemia with a KMT2A translocation in adults and pediatric patients aged one year and older.