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Monday, July 4, 2022

Syndax Pharmaceuticals (NASDAQ:SNDX) Rating Lowered to ‘Hold’ by Zacks Investment Research

As per the reports of Zacks.com, the rating of Syndax Pharmaceuticals (NASDAQ:SNDX) was lowered from ‘buy’ to ‘hold’ by Zacks Investment Research in a research report issued on Tuesday.

Zacks on Syndax Pharmaceuticals (NASDAQ:SNDX)

Zacks stated that Syndax Pharmaceuticals, Inc. is a biopharmaceutical company, based in WALTHAM of the United States, that was focused on the development and commercialization of entinostat, an epigenetic therapy for treatment-resistant cancers.

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“The Company’s product pipeline includes ENCORE 601, ENCORE 602, J1353, NCI-7870, NCI-9844, E2112, NCI-8871 and NCI-9253 which are in the clinical trial stage.” said Zacks. 

In a research note issued on Tuesday, BidaskClub slashed Syndax Pharmaceuticals (NASDAQ:SNDX)’s rating from ‘buy’ to ‘hold.’ The stocks of the company have been assigned a ‘hold’ rating by four investment analysts and a ‘buy’ rating by seven analysts. The average rating of the firm is ‘buy’ and $22.00 is the consensus target price. 

Syndax Pharmaceuticals (NASDAQ:SNDX) – Overall Report

During trading on Tuesday, Syndax Pharmaceuticals (NASDAQ:SNDX) traded up and hit $15.98. The trading volume of the company was 2,762 shares in comparison with 4,87,636; its average volume. $5.35 is the 52-week low and $21.97 is the 52-week high of Syndax Pharmaceuticals. $15.80 is the 50-day moving average and $14.99 is the 200-day moving average of the firm. The debt-to-equity ratio, quick ratio, and the current ratio of the company are 0.14, 15.39, and 15.39 respectively. The market capitalization of Syndax Pharmaceuticals (NASDAQ:SNDX) is $595.58 million. The PE ratio of the company is -8.73 and 1.77 is its beta. 

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On Thursday, 6th August, the recent earnings result was posted by the biopharmaceutical company. For the quarter, the earnings per share (EPS) reported by the firm was ($0.42) matching with the consensus estimate of ($0.47) by $0.05. Syndax Pharmaceuticals (NASDAQ:SNDX) had a 91.09% negative return on equity and a 4,155.11% negative net margin. For the quarter, the company reported $0.38 million in revenue. As per the estimates of equity analysts, the company may announce -1.82 EPS for the current fiscal year. 

Investors have either increased or lowered their stakes in the company. During the 1st quarter, Bank of New York Mellon Corp increased its stakes in Syndax Pharmaceuticals (NASDAQ:SNDX)’s share by 10.2%. Bank of New York Mellon Corp is now the owner of 82,622 of the company’s total $906,000 shares after buying 7,635 shares. In the 1st quarter, the stakes in the company were increased by 30.5% by JP Morgan Chase & Co.

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