Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a sell rating to a hold rating in a report released on Thursday.

Several other equities analysts also recently weighed in on SNDX. The Goldman Sachs Group increased their price target on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday. Barclays raised their price objective on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Citigroup lifted their price target on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Bank of America lifted their price target on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. cut their price objective on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.82.

Syndax Pharmaceuticals Price Performance

Shares of SNDX stock traded up $0.03 during mid-day trading on Thursday, hitting $21.55. The company had a trading volume of 335,334 shares, compared to its average volume of 1,061,807. Syndax Pharmaceuticals has a 52-week low of $13.14 and a 52-week high of $25.34. The stock’s 50 day moving average price is $19.09 and its 200-day moving average price is $20.33.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating 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 quarter last year, the firm earned ($0.73) EPS. On average, equities analysts anticipate that Syndax Pharmaceuticals will post -3.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Syndax Pharmaceuticals by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock worth $117,262,000 after buying an additional 591,631 shares during the last quarter. Sofinnova Investments Inc. boosted its position in Syndax Pharmaceuticals by 33.9% during the 2nd quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock valued at $44,215,000 after purchasing an additional 545,129 shares during the period. First Turn Management LLC boosted its position in Syndax Pharmaceuticals by 85.4% during the 3rd quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock worth $22,853,000 after acquiring an additional 546,776 shares during the period. StemPoint Capital LP raised its stake in shares of Syndax Pharmaceuticals by 0.6% in the 1st quarter. StemPoint Capital LP now owns 1,100,988 shares of the company’s stock worth $26,204,000 after buying an additional 6,494 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Syndax Pharmaceuticals by 56.3% during the second quarter. Millennium Management LLC now owns 1,065,508 shares of the company’s stock worth $21,875,000 after purchasing an additional 383,634 shares during the period.

About Syndax Pharmaceuticals

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).