Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Cut to $37.00 by Analysts at UBS Group

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective decreased by UBS Group from $38.00 to $37.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 84.72% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Mizuho reduced their price target on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Barclays boosted their target price on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Wall Street Zen upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Friday, March 27th. Finally, Citigroup boosted their target price on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $42.55.

Syndax Pharmaceuticals Stock Down 1.9%

Shares of Syndax Pharmaceuticals stock traded down $0.38 during trading on Wednesday, hitting $20.03. 175,862 shares of the stock traded hands, compared to its average volume of 1,454,104. The stock has a market cap of $1.77 billion, a P/E ratio of -7.18 and a beta of 0.41. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $25.59. The company has a fifty day moving average price of $23.06 and a two-hundred day moving average price of $20.67.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.11. The business had revenue of $64.86 million during the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The firm’s revenue was up 224.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.98) EPS. Equities research analysts predict that Syndax Pharmaceuticals will post -1.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC boosted its stake in Syndax Pharmaceuticals by 3.2% in the first quarter. Hsbc Holdings PLC now owns 23,461 shares of the company’s stock worth $556,000 after purchasing an additional 730 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Syndax Pharmaceuticals by 8.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 10,985 shares of the company’s stock valued at $231,000 after acquiring an additional 875 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Syndax Pharmaceuticals by 26.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after acquiring an additional 893 shares during the period. Schroder Investment Management Group lifted its stake in shares of Syndax Pharmaceuticals by 1.0% during the third quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after acquiring an additional 1,241 shares during the period. Finally, Verition Fund Management LLC lifted its stake in shares of Syndax Pharmaceuticals by 7.5% during the fourth quarter. Verition Fund Management LLC now owns 18,460 shares of the company’s stock valued at $388,000 after acquiring an additional 1,281 shares during the period.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.