B. Riley Begins Coverage on Syndax Pharmaceuticals (SNDX)

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

Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Syndax Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, December 19th. ValuEngine cut shares of Syndax Pharmaceuticals from a buy rating to a hold rating in a report on Monday, November 26th. Nomura reduced their target price on shares of Syndax Pharmaceuticals from $22.00 to $12.00 and set a buy rating for the company in a report on Tuesday, December 18th. Finally, Morgan Stanley cut 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 report on Monday, October 29th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Syndax Pharmaceuticals currently has an average rating of Buy and a consensus price target of $16.25.

Shares of SNDX stock opened at $6.53 on Tuesday. Syndax Pharmaceuticals has a 12 month low of $3.39 and a 12 month high of $15.20. The company has a market cap of $141.81 million, a price-to-earnings ratio of -2.25 and a beta of 2.14.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Monday, November 5th. The company reported ($0.68) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.76) by $0.08. Syndax Pharmaceuticals had a negative net margin of 3,185.75% and a negative return on equity of 91.11%. The business had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $0.38 million. As a group, equities research analysts predict that Syndax Pharmaceuticals will post -2.89 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Syndax Pharmaceuticals by 5.2% in the third quarter. BlackRock Inc. now owns 1,757,844 shares of the company’s stock worth $14,202,000 after purchasing an additional 87,028 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Syndax Pharmaceuticals by 42.4% in the third quarter. Dimensional Fund Advisors LP now owns 795,767 shares of the company’s stock worth $6,428,000 after purchasing an additional 237,042 shares during the period. 683 Capital Management LLC boosted its position in shares of Syndax Pharmaceuticals by 32.4% in the second quarter. 683 Capital Management LLC now owns 375,000 shares of the company’s stock worth $2,633,000 after purchasing an additional 91,770 shares during the period. Renaissance Technologies LLC boosted its position in shares of Syndax Pharmaceuticals by 560.3% in the third quarter. Renaissance Technologies LLC now owns 279,300 shares of the company’s stock worth $2,257,000 after purchasing an additional 237,000 shares during the period. Finally, Morgan Stanley boosted its position in shares of Syndax Pharmaceuticals by 10.7% in the third quarter. Morgan Stanley now owns 269,595 shares of the company’s stock worth $2,178,000 after purchasing an additional 26,043 shares during the period. Institutional investors and hedge funds own 61.75% 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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Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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