Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a hold rating to a sell rating in a research note released on Saturday.

Other equities research analysts have also issued research reports about the company. Stifel Nicolaus raised their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. The Goldman Sachs Group lifted their price target on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Citigroup increased their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Barclays boosted their price objective on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, HC Wainwright lifted their price target on Syndax Pharmaceuticals from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, November 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $37.64.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $16.09 on Friday. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -4.43 and a beta of 0.92. The company’s 50 day simple moving average is $18.60 and its 200 day simple moving average is $20.00. Syndax Pharmaceuticals has a fifty-two week low of $15.00 and a fifty-two week high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15. The firm had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.16 million. During the same period in the prior year, the business earned ($0.73) earnings per share. As a group, analysts predict that Syndax Pharmaceuticals will post -3.69 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Simplify Asset Management Inc. grew its stake in shares of Syndax Pharmaceuticals by 62.5% in the third quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock valued at $2,352,000 after buying an additional 46,992 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Syndax Pharmaceuticals by 54.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock worth $8,806,000 after purchasing an additional 151,021 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Syndax Pharmaceuticals by 18.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company’s stock valued at $5,991,000 after purchasing an additional 46,463 shares during the period. Renaissance Technologies LLC lifted its stake in Syndax Pharmaceuticals by 170.9% in the 2nd quarter. Renaissance Technologies LLC now owns 214,300 shares of the company’s stock valued at $4,400,000 after purchasing an additional 135,200 shares during the last quarter. Finally, First Turn Management LLC grew its holdings in Syndax Pharmaceuticals by 85.4% during the third quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock worth $22,853,000 after purchasing an additional 546,776 shares during the period.

Syndax Pharmaceuticals Company Profile

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).