Syndax Pharmaceuticals (NASDAQ:SNDX) Research Coverage Started at UBS Group

UBS Group initiated coverage on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a report published on Thursday morning, Marketbeat.com reports. The brokerage issued a buy rating and a $37.00 target price on the stock.

A number of other equities analysts have also recently commented on the stock. Bank of America lifted their price objective on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Barclays upped their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Citigroup raised their price objective on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Stifel Nicolaus upped their target price on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. dropped their price target on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $35.90.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock opened at $18.75 on Thursday. Syndax Pharmaceuticals has a 52-week low of $11.96 and a 52-week high of $25.34. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of -5.82 and a beta of 0.91. The firm’s 50-day moving average is $19.25 and its 200-day moving average is $20.42.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.11. The business had revenue of $3.50 million during the quarter. During the same quarter last year, the company earned ($0.64) EPS. The firm’s revenue for the quarter was up 3499999990.0% on a year-over-year basis. Sell-side analysts predict that Syndax Pharmaceuticals will post -3.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. grew its holdings in shares of Syndax Pharmaceuticals by 63.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 16,367 shares of the company’s stock worth $315,000 after purchasing an additional 6,383 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Syndax Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after purchasing an additional 541 shares during the period. Values First Advisors Inc. acquired a new stake in Syndax Pharmaceuticals during the third quarter worth about $30,000. Assenagon Asset Management S.A. increased its holdings in Syndax Pharmaceuticals by 8.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 466,028 shares of the company’s stock valued at $8,971,000 after buying an additional 37,079 shares during the period. Finally, Inspire Investing LLC raised its position in shares of Syndax Pharmaceuticals by 23.2% in the 3rd quarter. Inspire Investing LLC now owns 21,308 shares of the company’s stock valued at $410,000 after buying an additional 4,018 shares in the last quarter.

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).