StockNews.com Downgrades Syndax Pharmaceuticals (NASDAQ:SNDX) to Sell

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Saturday.

SNDX has been the subject of several other reports. UBS Group started coverage on Syndax Pharmaceuticals in a report on Thursday, October 24th. They issued a "buy" rating and a $37.00 price objective for the company. Citigroup lifted their price target on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a "buy" rating in a research note on Tuesday. The Goldman Sachs Group raised their price objective on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Barclays boosted their target price on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an "overweight" rating in a research note on Thursday, August 15th. Finally, Stifel Nicolaus increased their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Syndax Pharmaceuticals currently has an average rating of "Moderate Buy" and an average price target of $37.64.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX traded up $0.49 during trading on Friday, reaching $16.09. 1,465,052 shares of the company's stock were exchanged, compared to its average volume of 2,257,287. The business has a 50 day moving average price of $18.60 and a 200-day moving average price of $20.00. The stock has a market capitalization of $1.37 billion, a P/E ratio of -4.43 and a beta of 0.92. Syndax Pharmaceuticals has a fifty-two week low of $15.00 and a fifty-two week high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share 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 period in the previous year, the firm posted ($0.73) earnings per share. On average, analysts forecast that Syndax Pharmaceuticals will post -3.69 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Iron Triangle Partners LP purchased a new stake in Syndax Pharmaceuticals in the 1st quarter worth $23,159,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Syndax Pharmaceuticals during the 3rd quarter valued at $15,165,000. Eventide Asset Management LLC purchased a new stake in Syndax Pharmaceuticals in the third quarter worth $15,150,000. First Turn Management LLC bought a new stake in Syndax Pharmaceuticals during the 2nd quarter valued at about $13,147,000. Finally, Vanguard Group Inc. raised its holdings in shares of Syndax Pharmaceuticals by 13.6% in the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company's stock valued at $117,262,000 after acquiring an additional 591,631 shares in the last quarter.

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).