The Goldman Sachs Group Forecasts Strong Price Appreciation for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) had its target price increased by stock analysts at The Goldman Sachs Group from $30.00 to $33.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. The Goldman Sachs Group's price objective would indicate a potential upside of 53.35% from the stock's previous close.

Several other research analysts have also weighed in on SNDX. Stifel Nicolaus boosted their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Barclays upped their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an "overweight" rating in a research report on Thursday, August 15th. Citigroup lifted their price objective on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the company a "buy" rating in a research report on Friday, August 16th. UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a "buy" rating and a $37.00 target price for the company. Finally, HC Wainwright boosted their price target on Syndax Pharmaceuticals from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of "Moderate Buy" and an average target price of $35.82.

Syndax Pharmaceuticals Stock Up 0.8 %

SNDX traded up $0.17 during trading hours on Thursday, hitting $21.52. 1,116,210 shares of the company's stock were exchanged, compared to its average volume of 1,065,171. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -6.37 and a beta of 0.92. Syndax Pharmaceuticals has a 1-year low of $13.14 and a 1-year high of $25.34. The stock's 50-day moving average is $19.09 and its two-hundred day moving average is $20.33.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping analysts' consensus estimates of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the prior year, the company earned ($0.73) earnings per share. On average, equities research analysts anticipate that Syndax Pharmaceuticals will post -3.66 EPS for the current year.

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at about $27,000. Values First Advisors Inc. bought a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at approximately $30,000. nVerses Capital LLC acquired a new stake in Syndax Pharmaceuticals during the second quarter worth approximately $33,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Syndax Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company's stock worth $58,000 after acquiring an additional 541 shares during the period. Finally, Quarry LP raised its holdings in Syndax Pharmaceuticals by 75.0% in the 2nd quarter. Quarry LP now owns 6,125 shares of the company's stock valued at $126,000 after acquiring an additional 2,625 shares in the last quarter.

Syndax Pharmaceuticals Company Profile

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).