Syndax Pharmaceuticals, Inc. has recently received an average rating of “Moderate Buy” from Bloomberg Ratings. Eight analysts are presently covering the stock, and six of them have given a buy rating to the company, while one research analyst has rated it as a sell. Syndax Pharmaceuticals is engaged in the development of cancer therapies and its product candidates include SNDX-5613 and SNDX-6352. The company was founded on October 11, 2005, by Richard A. Heyman, Eckard Weber, Peter Ordentlich, Ronald M. Evans and Michael Downes and is headquartered in Waltham, MA.
Hedge funds and institutional investors have been showing interest in Syndax Pharmaceuticals by either increasing or reducing their stakes in the company. Caxton Associates LP acquired a new stake worth $615,000 during the third quarter. Dimensional Fund Advisors LP increased its position by 16.8% during the same period to now own 1,122,452 shares of the company’s stock valued at $26,974,000.
PFM Health Sciences LP also raised its position in shares of Syndax Pharmaceuticals by 122% during the third quarter to own 1,289,073 shares valued at $30,976,000 after buying an additional 708,305 shares over that timeframe. Sofinnova Investments Inc., meanwhile increased its position by 27% during Q3 to now own 525K shares worth $12M.
Finally Psagot Value Holdings Ltd Israel purchased a new position during Q4 worth about $127K; nearly all of Sydnax’s stock – around 99 percent – is owned by institutional investors.
Brokerages that have issued reports on Syndax Pharmaceuticals indicate that the average one-year price objective for the stock is currently pegged around $33.57 per share which may influence investor confidence going forward this year.
In conclusion with reinforced interest from institutional investors and recent buy ratings, Syndax Pharmaceuticals has the potential to become a leader in cancer therapy development. Its innovative product candidates and strong management team position the company for future growth in capital markets.
Analysts Divided: The Future of Syndax Pharmaceuticals
Syndax Pharmaceuticals, a clinical-stage biopharmaceutical company with focuses on developing cancer therapies, has recently been under the radar of various equity research analysts. The company’s market cap of $1.34 billion has caught the attention of many investors, and experts are predicting a bright future for SNDX.
Stifel Nicolaus was one of the first firms to initiate coverage on Syndax Pharmaceuticals in January 2023. They issued a “buy” rating, along with a target price of $37.00 for the company’s shares. HC Wainwright reaffirmed this sentiment by issuing a similar rating and price objective in March 2023.
However, despite these positive outlooks, Goldman Sachs did lower their price objective from $39.00 to $34.00 in light of recent events affecting SNDX stock values. Citigroup seemed undeterred by this news; they instead raised their own price objective from $29.00 to $32.00, solidifying their belief in Syndax Pharmaceuticals’ potential growth.
StockNews.com was less enthusiastic about Syndax Pharmaceuticals; they assumed coverage on the company later that month and issued a “sell” rating for its stocks advisedly.
In other news related to Syndax Pharmaceuticals, insiders such as Briggs Morrison and Peter Ordentlich sold portions of their shares in February 2023 at an average price of around $26-27 per share.
As the world braces itself for the coming recession amid the ongoing COVID-19 pandemic crisis, Syndax Pharmaceuticals’ current stock value is hovering around its opening price of $19.60 per share on Thursday April 13th,2023 representing its twelve month low; it had reached its peak value at nearly thirty dollars last year.
Despite its current woes on trading floors across America today, most sell-side analysts anticipate that Syndax Pharmaceuticals will bounce back stronger than ever before with projected earnings surging by up to $3.04 per share for the current fiscal year.
It is to be seen whether Syndax Pharmaceuticals can rise to this challenge, but one thing is abundantly clear: with research analysts expressing differing views on the company’s performance and insider activities shaking up the stock values, investors and industry experts alike are eagerly watching SNDX’s next move in anticipation of strong gains.