Why Did H.C. Wainwright Downgrade Syndax Pharmaceuticals’ Stock?

By Jason Carr

Syndax Pharmaceuticals (SNDXResearch Report) received a Hold rating and a $15.00 price target from H.C. Wainwright analyst Edward White today. The company’s shares closed last Friday at $15.62.

According to TipRanks.com, White is a top 100 analyst with an average return of 29.7% and a 55.9% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and TRACON Pharmaceuticals.

Syndax Pharmaceuticals has an analyst consensus of Strong Buy, with a price target consensus of $22.67, representing a 33.4% upside. In a report issued on May 18, Citigroup also downgraded the stock to Hold with a $26.00 price target.

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The company has a one-year high of $21.97 and a one-year low of $5.35. Currently, Syndax Pharmaceuticals has an average volume of 694.8K.

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Syndax Pharmaceuticals, Inc. 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.