HC Wainwright Cuts Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $38.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target lowered by HC Wainwright from $40.00 to $38.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock. HC Wainwright also issued estimates for Syndax Pharmaceuticals’ Q3 2026 earnings at ($0.48) EPS, Q4 2026 earnings at ($0.40) EPS, FY2026 earnings at ($1.92) EPS, FY2027 earnings at ($0.41) EPS, FY2028 earnings at $0.84 EPS, FY2029 earnings at $2.28 EPS and FY2030 earnings at $3.16 EPS.

Other research analysts have also issued reports about the company. Barclays upped their target price on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a report on Friday, June 12th. Bank of America reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday. Finally, Weiss Ratings downgraded Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.36.

Syndax Pharmaceuticals Trading Up 3.2%

Syndax Pharmaceuticals stock opened at $20.40 on Wednesday. The company’s fifty day simple moving average is $20.43 and its 200-day simple moving average is $21.36. The company has a quick ratio of 5.06, a current ratio of 6.77 and a debt-to-equity ratio of 38.95. Syndax Pharmaceuticals has a 12 month low of $12.10 and a 12 month high of $25.59. The stock has a market cap of $1.81 billion, a P/E ratio of -8.13 and a beta of 0.40.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data 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 return on equity of 372.94% and a negative net margin of 87.52%.The firm had revenue of $72.79 million for the quarter, compared to analysts’ expectations of $79.36 million. During the same quarter in the prior year, the business posted ($0.83) earnings per share. Syndax Pharmaceuticals’s revenue was up 91.8% on a year-over-year basis. As a group, sell-side analysts forecast that Syndax Pharmaceuticals will post -1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CMO Nicholas A.J. Botwood sold 31,235 shares of the business’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $18.14, for a total value of $566,602.90. Following the completion of the sale, the chief marketing officer owned 60,885 shares of the company’s stock, valued at $1,104,453.90. The trade was a 33.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael A. Metzger sold 32,375 shares of the company’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total value of $784,770.00. Following the sale, the chief executive officer owned 484,843 shares of the company’s stock, valued at approximately $11,752,594.32. This trade represents a 6.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 105,914 shares of company stock valued at $2,120,789 over the last quarter. 4.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SNDX. BlackRock Inc. acquired a new position in Syndax Pharmaceuticals during the second quarter valued at approximately $197,177,000. Elmind Capital LP acquired a new stake in shares of Syndax Pharmaceuticals in the fourth quarter worth $38,974,000. Vanguard Group Inc. lifted its stake in shares of Syndax Pharmaceuticals by 21.2% in the fourth quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after buying an additional 1,091,717 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter worth $22,736,000. Finally, Bank of America Corp DE boosted its holdings in shares of Syndax Pharmaceuticals by 33.7% during the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after buying an additional 967,873 shares during the period.

Trending Headlines about Syndax Pharmaceuticals

Here are the key news stories impacting Syndax Pharmaceuticals this week:

• Positive Sentiment: HC Wainwright reaffirmed its Buy rating and $38 price objective, indicating substantial potential upside if Syndax’s pipeline and commercial outlook develop as expected. HC Wainwright Issues Pessimistic Forecast for Syndax Pharmaceuticals
• Neutral Sentiment: The analyst still projects a transition to profitability, forecasting positive EPS of $0.84 in FY2028, $2.28 in FY2029 and $3.16 in FY2030, although those estimates were reduced from previous forecasts.
• Negative Sentiment: HC Wainwright cut its FY2026 EPS forecast to a loss of $1.92 from a loss of $1.16, and lowered its Q3 and Q4 2026 estimates to losses of $0.48 and $0.40 per share, respectively.
• Negative Sentiment: The firm reduced its FY2027 EPS forecast to a loss of $0.41 from a loss of $0.13, suggesting Syndax may remain unprofitable longer than previously expected.
• Negative Sentiment: Longer-term projections were also trimmed: FY2028 EPS fell to $0.84 from $1.17, FY2029 to $2.28 from $2.59, and FY2030 to $3.16 from $3.52. The broad reductions point to more cautious expectations for the company’s earnings trajectory.

Syndax Pharmaceuticals Company Profile

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.