Syndax Pharmaceuticals (NASDAQ:SNDX) Lifted to “Hold” at ValuEngine

Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a research report issued on Thursday, March 21st, ValuEngine reports.

A number of other research analysts have also commented on the company. Robert W. Baird initiated coverage on Syndax Pharmaceuticals in a research note on Friday, January 4th. They issued an “outperform” rating for the company. Morgan Stanley set a $5.00 price target on Syndax Pharmaceuticals and gave the company a “hold” rating in a research report on Friday, March 8th. B. Riley began coverage on Syndax Pharmaceuticals in a research report on Tuesday, January 8th. They issued a “buy” rating and a $40.00 price target on the stock. HC Wainwright reiterated a “buy” rating and issued a $16.00 price target (down from $22.00) on shares of Syndax Pharmaceuticals in a research report on Friday, March 8th. They noted that the move was a valuation call. Finally, BTIG Research lowered their price target on Syndax Pharmaceuticals to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 8th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $14.07.

Shares of SNDX stock traded down $0.13 during trading hours on Thursday, reaching $6.13. 170,700 shares of the company’s stock were exchanged, compared to its average volume of 176,786. Syndax Pharmaceuticals has a fifty-two week low of $3.39 and a fifty-two week high of $11.99. The firm has a market cap of $155.50 million, a PE ratio of -2.10 and a beta of 2.37.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Thursday, March 7th. The company reported ($0.70) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.02). The business had revenue of $0.38 million for the quarter, compared to analyst estimates of $0.38 million. Syndax Pharmaceuticals had a negative return on equity of 107.73% and a negative net margin of 4,875.48%. On average, equities analysts expect that Syndax Pharmaceuticals will post -2.08 EPS for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. Paloma Partners Management Co acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter valued at $56,000. Squarepoint Ops LLC lifted its stake in shares of Syndax Pharmaceuticals by 51.3% during the fourth quarter. Squarepoint Ops LLC now owns 18,601 shares of the company’s stock valued at $83,000 after acquiring an additional 6,303 shares during the period. Rhumbline Advisers lifted its stake in shares of Syndax Pharmaceuticals by 38.1% during the fourth quarter. Rhumbline Advisers now owns 19,410 shares of the company’s stock valued at $86,000 after acquiring an additional 5,350 shares during the period. Raymond James & Associates acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter valued at $98,000. Finally, Bank of America Corp DE lifted its stake in shares of Syndax Pharmaceuticals by 1,382.0% during the second quarter. Bank of America Corp DE now owns 28,084 shares of the company’s stock valued at $197,000 after acquiring an additional 26,189 shares during the period. Institutional investors own 61.88% of the company’s stock.

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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