Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Cut to $16.00 by Analysts at Scotiabank

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target reduced by Scotiabank from $18.00 to $16.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the stock.

Other equities analysts have also issued research reports about the company. UBS Group initiated coverage on Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a “buy” rating and a $37.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 10th. Stifel Nicolaus lifted 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. Citigroup boosted their price target on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group lifted their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $13.81 on Wednesday. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -3.80 and a beta of 0.89. Syndax Pharmaceuticals has a 52-week low of $12.40 and a 52-week high of $25.34. The stock has a 50-day simple moving average of $15.75 and a 200-day simple moving average of $18.68.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same quarter last year, the firm earned ($0.73) earnings per share. As a group, equities research analysts predict that Syndax Pharmaceuticals will post -2.39 earnings per share for the current year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SNDX. Northwestern Mutual Wealth Management Co. acquired a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at about $27,000. Values First Advisors Inc. acquired a new stake in Syndax Pharmaceuticals during the 3rd quarter worth $30,000. Quantbot Technologies LP purchased a new position in Syndax Pharmaceuticals during the 3rd quarter worth $49,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Syndax Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after acquiring an additional 541 shares in the last quarter. Finally, Quarry LP boosted its holdings in Syndax Pharmaceuticals by 75.0% during the second quarter. Quarry LP now owns 6,125 shares of the company’s stock worth $126,000 after buying an additional 2,625 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).