Syndax Pharmaceuticals (NASDAQ:SNDX) Cut to “Hold” at Scotiabank

Scotiabank lowered shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a strong-buy rating to a hold rating in a research note issued to investors on Friday, Zacks.com reports.

SNDX has been the topic of a number of other reports. JPMorgan Chase & Co. restated an overweight rating and set a $34.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 21st. HC Wainwright reiterated a buy rating and issued a $41.00 target price on shares of Syndax Pharmaceuticals in a research note on Thursday, June 6th. Stifel Nicolaus boosted their price target on Syndax Pharmaceuticals from $39.00 to $40.00 and gave the stock a buy rating in a research report on Thursday, May 9th. Finally, Citigroup cut their price objective on Syndax Pharmaceuticals from $32.00 to $30.00 and set a buy rating for the company in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $34.42.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $20.11 on Friday. The company has a market cap of $1.71 billion, a price-to-earnings ratio of -6.25 and a beta of 1.01. The firm has a 50-day moving average of $20.88 and a 200-day moving average of $21.34. Syndax Pharmaceuticals has a one year low of $11.22 and a one year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.85) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.11. During the same period last year, the firm earned ($0.59) EPS. As a group, sell-side analysts expect that Syndax Pharmaceuticals will post -3.56 earnings per share for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several hedge funds have recently bought and sold shares of the company. CWM LLC increased its stake in shares of Syndax Pharmaceuticals by 415.3% in the 4th quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after purchasing an additional 1,358 shares during the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in Syndax Pharmaceuticals during the fourth quarter worth about $37,000. Quadrant Capital Group LLC lifted its holdings in shares of Syndax Pharmaceuticals by 158.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $53,000 after acquiring an additional 1,496 shares during the last quarter. Annandale Capital LLC acquired a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter valued at approximately $67,000. Finally, Signaturefd LLC grew its holdings in shares of Syndax Pharmaceuticals by 2,874.6% during the 4th quarter. Signaturefd LLC now owns 3,748 shares of the company’s stock valued at $81,000 after purchasing an additional 3,622 shares during the last quarter.

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).