Zacks Investment Research upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a hold rating to a buy rating in a report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $17.00 target price on the stock.
According to Zacks, “Syndax Pharmaceuticals, Inc. is a biopharmaceutical company which focused on the development and commercialization of entinostat, an epigenetic therapy for treatment-resistant cancers. The Company’s product pipeline includes ENCORE 601, ENCORE 602, J1353, NCI-7870, NCI-9844, E2112, NCI-8871 and NCI-9253 which are in clinical trial stage. Syndax Pharmaceuticals, Inc. is based in WALTHAM, United States. “
Separately, BidaskClub cut shares of Syndax Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, October 13th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Syndax Pharmaceuticals presently has an average rating of Buy and an average price target of $21.75.
Shares of SNDX stock opened at $17.60 on Wednesday. Syndax Pharmaceuticals has a 52-week low of $5.35 and a 52-week high of $21.97. The stock has a market cap of $678.46 million, a PE ratio of -9.62 and a beta of 1.77. The company has a debt-to-equity ratio of 0.14, a quick ratio of 15.39 and a current ratio of 15.39. The firm’s 50 day moving average price is $15.75 and its two-hundred day moving average price is $15.11.
Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Thursday, August 6th. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.05. Syndax Pharmaceuticals had a negative net margin of 4,155.11% and a negative return on equity of 91.09%. The firm had revenue of $0.38 million for the quarter. As a group, sell-side analysts predict that Syndax Pharmaceuticals will post -1.82 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Citigroup Inc. lifted its position in Syndax Pharmaceuticals by 32.9% in the 1st quarter. Citigroup Inc. now owns 5,503 shares of the company’s stock valued at $60,000 after acquiring an additional 1,362 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Syndax Pharmaceuticals by 109.9% in the 2nd quarter. Bank of Montreal Can now owns 3,962 shares of the company’s stock valued at $61,000 after purchasing an additional 2,074 shares during the period. American International Group Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 24.3% in the second quarter. American International Group Inc. now owns 16,474 shares of the company’s stock valued at $244,000 after purchasing an additional 3,221 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of Syndax Pharmaceuticals by 9.5% in the second quarter. State of Wisconsin Investment Board now owns 40,200 shares of the company’s stock valued at $596,000 after purchasing an additional 3,500 shares in the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of Syndax Pharmaceuticals by 131.3% during the first quarter. BNP Paribas Arbitrage SA now owns 6,449 shares of the company’s stock worth $71,000 after buying an additional 3,661 shares in the last quarter. 84.71% of the stock is currently owned by institutional investors.
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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