Citigroup Issues Pessimistic Forecast for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) had its target price lowered by analysts at Citigroup from $45.00 to $42.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price objective indicates a potential upside of 190.06% from the stock's previous close.

SNDX has been the topic of several other reports. JPMorgan Chase & Co. raised their price objective on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. Scotiabank dropped their target price on Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 8th. StockNews.com cut Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, November 23rd. HC Wainwright reaffirmed a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday. Finally, The Goldman Sachs Group increased their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of "Moderate Buy" and an average price target of $36.00.

Syndax Pharmaceuticals Stock Performance

SNDX traded up $0.10 during trading on Tuesday, hitting $14.48. 2,010,238 shares of the stock were exchanged, compared to its average volume of 2,326,808. The firm has a 50 day simple moving average of $14.29 and a 200 day simple moving average of $16.69. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -3.99 and a beta of 0.90. Syndax Pharmaceuticals has a 1 year low of $12.06 and a 1 year high of $25.16.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.79). The business had revenue of $7.68 million during the quarter, compared to the consensus estimate of $86.32 million. As a group, equities analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $71,579.00. Following the completion of the sale, the insider now owns 85,095 shares of the company's stock, valued at approximately $1,318,972.50. The trade was a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael A. Metzger sold 13,288 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $205,964.00. Following the sale, the chief executive officer now directly owns 300,121 shares of the company's stock, valued at approximately $4,651,875.50. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,683 shares of company stock valued at $336,087 in the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Syndax Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in Syndax Pharmaceuticals during the 4th quarter worth about $26,000. Quantbot Technologies LP acquired a new stake in Syndax Pharmaceuticals during the 3rd quarter worth about $49,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Syndax Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company's stock worth $58,000 after acquiring an additional 541 shares during the period. Virtus ETF Advisers LLC lifted its position in Syndax Pharmaceuticals by 18.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after acquiring an additional 827 shares during the period. Finally, Cape Investment Advisory Inc. lifted its position in Syndax Pharmaceuticals by 157.1% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock worth $85,000 after acquiring an additional 3,927 shares during the period.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).