Syndax Pharmaceuticals (NASDAQ:SNDX) Rating Lowered to Sell at Wall Street Zen

Syndax Pharmaceuticals (NASDAQ:SNDX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday.

Several other equities research analysts have also recently issued reports on SNDX. The Goldman Sachs Group raised their price target on shares of Syndax Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. JPMorgan Chase & Co. decreased their target price on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Guggenheim initiated coverage on Syndax Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $34.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 1st. Finally, UBS Group lifted their price objective on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $37.20.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX opened at $20.32 on Friday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64. The business’s fifty day moving average price is $16.30 and its two-hundred day moving average price is $13.61. The stock has a market cap of $1.77 billion, a PE ratio of -5.63 and a beta of 0.47. Syndax Pharmaceuticals has a one year low of $8.58 and a one year high of $20.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.04. The business had revenue of $45.87 million for the quarter, compared to the consensus estimate of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.The business’s revenue was up 266.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.98) earnings per share. On average, analysts forecast that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several institutional investors have recently bought and sold shares of SNDX. Deutsche Bank AG raised its stake in shares of Syndax Pharmaceuticals by 127.7% in the 1st quarter. Deutsche Bank AG now owns 204,732 shares of the company’s stock valued at $2,516,000 after acquiring an additional 114,828 shares during the period. Invesco Ltd. boosted its position in Syndax Pharmaceuticals by 49.7% during the 1st quarter. Invesco Ltd. now owns 76,848 shares of the company’s stock worth $944,000 after purchasing an additional 25,524 shares during the period. Aigen Investment Management LP acquired a new stake in Syndax Pharmaceuticals in the 1st quarter valued at $297,000. Nuveen LLC purchased a new position in Syndax Pharmaceuticals in the first quarter valued at about $2,754,000. Finally, Russell Investments Group Ltd. raised its position in Syndax Pharmaceuticals by 305.3% in the first quarter. Russell Investments Group Ltd. now owns 117,613 shares of the company’s stock valued at $1,445,000 after purchasing an additional 88,591 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).