Zacks Investment Research upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a hold rating to a buy rating in a report released on Tuesday, Zacks.com reports. Zacks Investment Research currently has $9.50 price objective 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. “
Several other equities research analysts have also issued reports on SNDX. HC Wainwright reiterated a buy rating and issued a $17.00 price target (up from $15.00) on shares of Syndax Pharmaceuticals in a research note on Monday. ValuEngine upgraded shares of Syndax Pharmaceuticals from a strong sell rating to a sell rating in a research note on Friday, January 3rd. B. Riley set a $14.00 price target on shares of Syndax Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, October 9th. Finally, Cowen reiterated a buy rating on shares of Syndax Pharmaceuticals in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The company presently has an average rating of Buy and an average price target of $13.42.
Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.48) by $0.07. Syndax Pharmaceuticals had a negative net margin of 4,013.45% and a negative return on equity of 110.20%. The firm had revenue of $0.38 million for the quarter, compared to analyst estimates of $0.38 million. Research analysts expect that Syndax Pharmaceuticals will post -1.9 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of SNDX. Bank of Montreal Can bought a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $36,000. JPMorgan Chase & Co. grew its position in shares of Syndax Pharmaceuticals by 52.5% in the 2nd 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 during the period. Ibex Investors LLC bought a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at about $103,000. Algert Global LLC bought a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $148,000. Finally, Parametric Portfolio Associates LLC grew its position in shares of Syndax Pharmaceuticals by 39.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 18,314 shares of the company’s stock valued at $171,000 after acquiring an additional 5,162 shares during the period. Hedge funds and other institutional investors own 63.16% 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.
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