UBS Group Cuts Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $37.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price cut by UBS Group from $38.00 to $37.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also commented on the stock. Barclays upped their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Jefferies Financial Group reiterated a “buy” rating and set a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a research report on Monday, March 30th. JPMorgan Chase & Co. boosted their target price on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, March 9th. Citigroup boosted their target price on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, Mizuho dropped their target price on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.55.

Syndax Pharmaceuticals Trading Down 1.6%

SNDX opened at $20.23 on Wednesday. Syndax Pharmaceuticals has a fifty-two week low of $8.59 and a fifty-two week high of $25.59. The company has a debt-to-equity ratio of 8.26, a current ratio of 5.47 and a quick ratio of 5.06. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -7.25 and a beta of 0.41. The company’s 50 day moving average price is $22.99 and its two-hundred day moving average price is $20.76.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The firm had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. During the same period in the previous year, the firm posted ($0.98) EPS. The company’s revenue for the quarter was up 224.3% compared to the same quarter last year. As a group, research analysts predict that Syndax Pharmaceuticals will post -1.72 earnings per share for the current year.

Institutional Trading of Syndax Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in SNDX. AQR Capital Management LLC increased its holdings in Syndax Pharmaceuticals by 478.8% during the first quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock worth $4,637,000 after buying an additional 312,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Syndax Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock worth $705,000 after buying an additional 3,094 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Syndax Pharmaceuticals in the first quarter worth about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Syndax Pharmaceuticals by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company’s stock worth $2,466,000 after purchasing an additional 30,596 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Syndax Pharmaceuticals by 4.9% in the second quarter. Legal & General Group Plc now owns 84,575 shares of the company’s stock worth $792,000 after purchasing an additional 3,937 shares in the last quarter.

Syndax Pharmaceuticals Company 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.