Zacks Investment Research upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a hold rating to a buy rating in a report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $7.75 target price on the stock.
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 analysts also recently weighed in on SNDX. BidaskClub downgraded Syndax Pharmaceuticals from a strong-buy rating to a buy rating in a research report on Saturday, August 24th. Nomura restated a buy rating and issued a $16.00 target price on shares of Syndax Pharmaceuticals in a research report on Sunday, August 11th. Cowen restated a buy rating on shares of Syndax Pharmaceuticals in a research report on Thursday, August 8th. ValuEngine downgraded Syndax Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, August 27th. Finally, HC Wainwright restated a buy rating on shares of Syndax Pharmaceuticals in a research report on Tuesday, July 16th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $12.96.
Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Wednesday, August 7th. The company reported ($0.47) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.44) by ($0.03). The firm had revenue of $0.38 million during the quarter, compared to the consensus estimate of $0.39 million. Syndax Pharmaceuticals had a negative return on equity of 108.44% and a negative net margin of 4,310.68%. On average, sell-side analysts predict that Syndax Pharmaceuticals will post -1.94 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in SNDX. United Services Automobile Association increased its stake in Syndax Pharmaceuticals by 0.9% in the 2nd quarter. United Services Automobile Association now owns 123,683 shares of the company’s stock worth $1,151,000 after purchasing an additional 1,130 shares during the period. JPMorgan Chase & Co. increased its stake in Syndax Pharmaceuticals by 52.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,522 shares of the company’s stock worth $50,000 after purchasing an additional 1,902 shares during the period. Bank of Montreal Can purchased a new position in Syndax Pharmaceuticals in the 2nd quarter worth approximately $36,000. Bank of New York Mellon Corp increased its stake in Syndax Pharmaceuticals by 7.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,899 shares of the company’s stock worth $659,000 after purchasing an additional 4,837 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in Syndax Pharmaceuticals by 39.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 18,314 shares of the company’s stock worth $171,000 after purchasing an additional 5,162 shares during the period. Institutional investors own 63.30% of the company’s stock.
About Syndax Pharmaceuticals
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.
See Also: What is a Backdoor Roth IRA?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Syndax Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syndax Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.