ValuEngine cut shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a buy rating to a hold rating in a research report sent to investors on Wednesday.
A number of other brokerages have also commented on SNDX. Morgan Stanley lowered Syndax Pharmaceuticals from an overweight rating to an equal weight rating and set a $6.00 price target on the stock. in a report on Monday, October 29th. HC Wainwright dropped their price target on Syndax Pharmaceuticals to $23.00 and set a buy rating on the stock in a report on Friday, October 26th. Citigroup dropped their price target on Syndax Pharmaceuticals from $15.00 to $12.00 and set a buy rating on the stock in a report on Thursday, October 11th. Finally, Zacks Investment Research lowered Syndax Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, October 10th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Syndax Pharmaceuticals presently has a consensus rating of Hold and a consensus price target of $18.20.
Shares of NASDAQ:SNDX traded up $0.18 during mid-day trading on Wednesday, hitting $5.58. 10,680 shares of the company traded hands, compared to its average volume of 422,670. The stock has a market cap of $129.89 million, a price-to-earnings ratio of -1.87 and a beta of 2.63. Syndax Pharmaceuticals has a 12-month low of $4.36 and a 12-month high of $15.20.
Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Monday, November 5th. The company reported ($0.68) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.08. The company had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $0.38 million. Syndax Pharmaceuticals had a negative return on equity of 91.11% and a negative net margin of 3,185.75%. As a group, analysts anticipate that Syndax Pharmaceuticals will post -3.12 earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its holdings in Syndax Pharmaceuticals by 266.9% during the first quarter. The Manufacturers Life Insurance Company now owns 10,566 shares of the company’s stock worth $151,000 after acquiring an additional 7,686 shares during the period. Rhumbline Advisers bought a new stake in Syndax Pharmaceuticals during the second quarter worth $103,000. DRW Securities LLC bought a new stake in Syndax Pharmaceuticals during the second quarter worth $105,000. Bank of America Corp DE lifted its holdings in Syndax Pharmaceuticals by 1,382.0% during the second quarter. Bank of America Corp DE now owns 28,084 shares of the company’s stock worth $197,000 after acquiring an additional 26,189 shares during the period. Finally, Spark Investment Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at $198,000. Institutional investors and hedge funds own 64.38% of the company’s stock.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapies for various cancer indications. The company's lead product candidate is Entinostat, which is in Phase 3 clinical trial for the treatment of hormone receptor positive or HR+, human epidermal growth factor receptor 2 negative or HER2-, and breast cancer; and Phase 1b/2 clinical trial.
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