Syndax Pharmaceuticals (NASDAQ:SNDX) Coverage Initiated by Analysts at UBS Group

Equities researchers at UBS Group began coverage on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a report issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $37.00 price target on the stock. UBS Group’s target price points to a potential upside of 99.57% from the company’s previous close.

Several other equities research analysts also recently issued reports on SNDX. Jefferies Financial Group started coverage on Syndax Pharmaceuticals in a report on Friday, June 28th. They issued a “buy” rating and a $37.00 price target for the company. HC Wainwright boosted their price objective on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Bank of America raised their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays upped their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.90.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $18.54 on Thursday. Syndax Pharmaceuticals has a fifty-two week low of $11.50 and a fifty-two week high of $25.34. The company’s 50 day simple moving average is $19.30 and its 200 day simple moving average is $20.49.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.11. The firm had revenue of $3.50 million for the quarter. During the same quarter last year, the company posted ($0.64) earnings per share. The firm’s quarterly revenue was up 3499999990.0% on a year-over-year basis. Equities research analysts predict that Syndax Pharmaceuticals will post -3.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNDX. Vanguard Group Inc. increased its position in shares of Syndax Pharmaceuticals by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 4,335,353 shares of the company’s stock valued at $93,687,000 after acquiring an additional 718,051 shares during the last quarter. Diversified Trust Co bought a new stake in shares of Syndax Pharmaceuticals during the 1st quarter worth approximately $369,000. Nvwm LLC acquired a new stake in shares of Syndax Pharmaceuticals in the 1st quarter valued at approximately $1,022,000. Swiss National Bank grew its stake in shares of Syndax Pharmaceuticals by 5.8% in the first quarter. Swiss National Bank now owns 150,600 shares of the company’s stock valued at $3,584,000 after buying an additional 8,200 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Syndax Pharmaceuticals during the first quarter worth $2,614,000.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).