Syndax Pharmaceuticals Inc Receives a Buy from Oppenheimer

In a report released today, Hartaj Singh from Oppenheimer assigned a Buy rating to Syndax Pharmaceuticals Inc (NASDAQ: SNDX). The company’s shares opened today at $11.08.

According to TipRanks.com, Singh is a 5-star analyst with an average return of 19.6% and a 52.7% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Catabasis Pharmaceuticals, and Actinium Pharmaceuticals.

Currently, the analyst consensus on Syndax Pharmaceuticals Inc is Strong Buy and the average price target is $30.33, representing a 173.7% upside.

In a report issued on May 9, Cowen & Co. also maintained a Buy rating on the stock.

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Based on Syndax Pharmaceuticals Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $19.4 million. In comparison, last year the company had a GAAP net loss of $12.97 million.

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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.