Trade Report: The Syndax Pharmaceuticals Inc. (SNDX) Rating Increased to Hold at The Zacks Investment Research

The Syndax Pharmaceuticals Inc. (SNDX) Rating Increased to Hold at The Zacks Investment Research

Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Thursday.

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. “

A number of other equities analysts have also commented on SNDX. JMP Securities reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, November 9th. Guggenheim assumed coverage on shares of Syndax Pharmaceuticals in a research report on Friday, October 7th. They set a “buy” rating and a $29.00 target price on the stock. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $25.80.

Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) opened at 10.04 on Thursday. Syndax Pharmaceuticals has a 52 week low of $8.97 and a 52 week high of $18.03. The stock’s market capitalization is $182.66 million. The firm’s 50-day moving average is $12.14 and its 200-day moving average is $12.87.

Institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new position in Syndax Pharmaceuticals during the first quarter worth about $17,557,000. BlackRock Advisors LLC increased its position in Syndax Pharmaceuticals by 232.7% in the second quarter. BlackRock Advisors LLC now owns 1,026,902 shares of the company’s stock worth $10,115,000 after buying an additional 718,209 shares in the last quarter. Jennison Associates LLC increased its position in Syndax Pharmaceuticals by 16.6% in the second quarter. Jennison Associates LLC now owns 537,545 shares of the company’s stock worth $5,247,000 after buying an additional 76,653 shares in the last quarter. Vanguard Group Inc. acquired a new position in Syndax Pharmaceuticals during the second quarter worth about $1,674,000. Finally, Sphera Funds Management LTD. acquired a new position in Syndax Pharmaceuticals during the third quarter worth about $2,521,000. Hedge funds and other institutional investors own 63.77% of the company’s stock.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.

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