Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage currently has a $8.25 price target on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 13.32% from the company’s current price.
According to Zacks, “Syndax Pharmaceuticals, Inc. is a biopharmaceutical company which focused on the development and commercialization of entinostat, an epigenetic therapy for treatment-resistant cancers. The Company’s product pipeline includes ENCORE 601, ENCORE 602, J1353, NCI-7870, NCI-9844, E2112, NCI-8871 and NCI-9253 which are in clinical trial stage. Syndax Pharmaceuticals, Inc. is based in WALTHAM, United States. “
A number of other research firms have also issued reports on SNDX. ValuEngine lowered shares of Syndax Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Tuesday, October 29th. Cowen restated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Friday, November 8th. B. Riley set a $14.00 price target on shares of Syndax Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday, October 9th. Nomura reaffirmed a “buy” rating and set a $16.00 price target on shares of Syndax Pharmaceuticals in a research note on Sunday, August 11th. Finally, BidaskClub lowered shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Syndax Pharmaceuticals currently has an average rating of “Buy” and a consensus price target of $13.04.
Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.48) by $0.07. Syndax Pharmaceuticals had a negative return on equity of 110.20% and a negative net margin of 4,013.45%. The firm had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $0.38 million. Analysts predict that Syndax Pharmaceuticals will post -1.9 earnings per share for the current year.
In other Syndax Pharmaceuticals news, CEO Briggs Morrison acquired 11,000 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were bought at an average cost of $6.38 per share, for a total transaction of $70,180.00. 8.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can purchased a new position in shares of Syndax Pharmaceuticals during the 2nd quarter valued at approximately $36,000. JPMorgan Chase & Co. raised its holdings in Syndax Pharmaceuticals by 52.5% in the second quarter. JPMorgan Chase & Co. now owns 5,522 shares of the company’s stock valued at $50,000 after acquiring an additional 1,902 shares in the last quarter. Ibex Investors LLC bought a new position in Syndax Pharmaceuticals during the 3rd quarter valued at $103,000. Athanor Capital LP bought a new position in Syndax Pharmaceuticals during the 2nd quarter valued at $104,000. Finally, Sigma Planning Corp bought a new position in Syndax Pharmaceuticals during the 2nd quarter valued at $114,000. 63.16% of the stock is currently owned by institutional investors.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. The company's lead product candidates include entinostat, which is in Phase III clinical trials for the treatment of advanced hormone receptor positive (HR+) and human epidermal growth factor receptor 2 negative (HER2-) breast cancer; and SNDX-5613 inhibitor that targets the binding interaction of Menin with mixed lineage leukemia-rearranged and acute myeloid leukemia with a mutated nucleophosmin 1.
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