Syndax Pharmaceuticals Inc (NASDAQ:SNDX) has earned an average recommendation of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $15.67.
A number of brokerages have recently issued reports on SNDX. BTIG Research cut their price target on shares of Syndax Pharmaceuticals to $19.00 and set a “buy” rating for the company in a report on Friday, March 8th. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target (down previously from $22.00) on shares of Syndax Pharmaceuticals in a report on Friday, March 8th. They noted that the move was a valuation call. B. Riley began coverage on shares of Syndax Pharmaceuticals in a report on Tuesday, January 8th. They issued a “buy” rating and a $40.00 price target for the company. ValuEngine downgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, Nomura increased their price target on shares of Syndax Pharmaceuticals to $16.00 and gave the company a “buy” rating in a report on Friday, March 8th.
Hedge funds and other institutional investors have recently modified their holdings of the stock. MCF Advisors LLC acquired a new stake in Syndax Pharmaceuticals in the 4th quarter valued at about $169,000. Point72 Asset Management L.P. acquired a new stake in Syndax Pharmaceuticals in the 3rd quarter valued at about $1,374,000. Telemetry Investments L.L.C. grew its stake in Syndax Pharmaceuticals by 116.9% in the 4th quarter. Telemetry Investments L.L.C. now owns 50,000 shares of the company’s stock valued at $222,000 after acquiring an additional 26,947 shares during the last quarter. 683 Capital Management LLC boosted its stake in shares of Syndax Pharmaceuticals by 157.7% during the 4th quarter. 683 Capital Management LLC now owns 1,342,839 shares of the company’s stock worth $5,976,000 after purchasing an additional 821,839 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Syndax Pharmaceuticals by 10.7% during the 3rd 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 last quarter. 61.88% of the stock is currently owned by hedge funds and other institutional investors.
Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($0.70) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.02). The company 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 4,875.48% and a negative return on equity of 107.73%. As a group, analysts forecast that Syndax Pharmaceuticals will post -2.08 earnings per share for the current fiscal year.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. The company's lead product candidates include entinostat, which is in Phase III clinical trials for the treatment of advanced hormone receptor positive (HR+) and human epidermal growth factor receptor 2 negative (HER2-) breast cancer; and SNDX-5613 inhibitor that targets the binding interaction of Menin with mixed lineage leukemia-rearranged and acute myeloid leukemia with a mutated nucleophosmin 1.
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