Syndax Pharmaceuticals (NASDAQ:SNDX) Given New $16.00 Price Target at Scotiabank

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) had its target price decreased by Scotiabank from $18.00 to $16.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has a "sector perform" rating on the stock. Scotiabank's price objective would suggest a potential upside of 15.86% from the company's current price.

SNDX has been the subject of a number of other reports. JPMorgan Chase & Co. upped their price target on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. Stifel Nicolaus raised their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. HC Wainwright reaffirmed a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 10th. StockNews.com lowered Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, November 23rd. Finally, Citigroup boosted their price objective on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.20.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock traded up $0.01 on Wednesday, hitting $13.81. The company had a trading volume of 1,476,392 shares, compared to its average volume of 2,181,459. Syndax Pharmaceuticals has a 52 week low of $12.40 and a 52 week high of $25.34. The company has a market cap of $1.18 billion, a PE ratio of -3.80 and a beta of 0.89. The business has a 50-day simple moving average of $15.85 and a 200-day simple moving average of $18.71.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SNDX. Bank of New York Mellon Corp raised its stake in shares of Syndax Pharmaceuticals by 18.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company's stock worth $5,991,000 after purchasing an additional 46,463 shares in the last quarter. Rhumbline Advisers raised its position in Syndax Pharmaceuticals by 9.4% during the second quarter. Rhumbline Advisers now owns 119,285 shares of the company's stock valued at $2,449,000 after acquiring an additional 10,291 shares in the last quarter. Quest Partners LLC lifted its stake in Syndax Pharmaceuticals by 138.9% in the second quarter. Quest Partners LLC now owns 13,635 shares of the company's stock valued at $280,000 after acquiring an additional 7,928 shares during the last quarter. American Century Companies Inc. acquired a new stake in Syndax Pharmaceuticals in the second quarter valued at approximately $201,000. Finally, Nicholas Investment Partners LP bought a new stake in Syndax Pharmaceuticals in the second quarter worth approximately $1,280,000.

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).