H.C. Wainwright Remains a Buy on Syndax Pharmaceuticals Inc (SNDX)


H.C. Wainwright analyst Edward White maintained a Buy rating on Syndax Pharmaceuticals Inc (SNDX) today and set a price target of $22. The company’s shares closed yesterday at $4.86, close to its 52-week low of $4.36.

White wrote:

“Valuation: We are lowering our price target to $22, from $23, due to an increase in share count. We base our $22 price target on probability-adjusted revenue forecasts for entinostat in combination with other drugs in advanced HR+, HER2- breast cancer, NSCLC, and metastatic melanoma.”

According to TipRanks.com, White is a 5-star analyst with an average return of 14.3% and a 45.2% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Synthetic Biologics Inc, and Karyopharm Therapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Syndax Pharmaceuticals Inc with a $18.60 average price target, implying a 282.7% upside from current levels. In a report issued on October 22, B.Riley FBR also reiterated a Buy rating on the stock with a $40 price target.

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The company has a one-year high of $15.20 and a one-year low of $4.36. Currently, Syndax Pharmaceuticals Inc has an average volume of 360.3K.

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Syndax Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in the development of cancer therapies. Its products include candidate and entinostat. The company was founded by Richard A. Heyman, Eckard Weber, Peter Ordentlich, Ronald M. Evans and Michael Downes on October 11, 2005 and is headquartered in Waltham, MA.

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