Syndax Pharmaceuticals’ (SNDX) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a research report sent to investors on Tuesday,Benzinga reports. HC Wainwright currently has a $38.00 price target on the stock.

A number of other equities research analysts have also weighed in on the company. UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Thursday, October 1st. Jefferies Financial Group restated a “buy” rating and set a $35.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, September 29th. JPMorgan Chase & Co. reduced their price target on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings raised Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 2nd. Finally, Bank of America reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $41.80.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $13.65 on Tuesday. The company has a debt-to-equity ratio of 38.95, a current ratio of 6.77 and a quick ratio of 6.44. The firm has a fifty day simple moving average of $18.63 and a two-hundred day simple moving average of $20.25. Syndax Pharmaceuticals has a twelve month low of $12.99 and a twelve month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. The business had revenue of $72.79 million for the quarter, compared to analysts’ expectations of $79.36 million. During the same quarter in the previous year, the company earned ($0.83) earnings per share. The business’s quarterly revenue was up 91.8% on a year-over-year basis. On average, research analysts predict that Syndax Pharmaceuticals will post -2.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC increased its position in shares of Syndax Pharmaceuticals by 10.5% in the second quarter. Tidal Investments LLC now owns 72,212 shares of the company’s stock valued at $1,579,000 after acquiring an additional 6,886 shares during the period. WINTON GROUP Ltd grew its stake in shares of Syndax Pharmaceuticals by 642.7% in the second quarter. WINTON GROUP Ltd now owns 76,500 shares of the company’s stock worth $1,672,000 after purchasing an additional 66,200 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Syndax Pharmaceuticals in the second quarter worth about $73,000. Squarepoint Ops LLC grew its stake in shares of Syndax Pharmaceuticals by 104.0% in the second quarter. Squarepoint Ops LLC now owns 370,317 shares of the company’s stock worth $8,095,000 after purchasing an additional 188,765 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Syndax Pharmaceuticals by 2.9% during the 2nd quarter. Arizona State Retirement System now owns 23,120 shares of the company’s stock valued at $505,000 after purchasing an additional 642 shares during the period.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc is a biopharmaceutical company focused on developing and commercializing therapies for cancer and other serious diseases. The company’s research programs target biological pathways involved in malignancy and immune-related conditions, with an emphasis on medicines that may address significant unmet medical needs.

Syndax’s lead product, Revuforj (revumenib), is an oral menin inhibitor approved by the U.S. Food and Drug Administration for treating relapsed or refractory acute leukemia with a KMT2A translocation in adults and pediatric patients aged one year and older.