Franklin Resources Inc. Has $34.95 Million Stock Position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Franklin Resources Inc. boosted its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 13.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,763,277 shares of the company's stock after purchasing an additional 208,043 shares during the quarter. Franklin Resources Inc. owned 2.07% of Syndax Pharmaceuticals worth $34,948,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Syndax Pharmaceuticals in the second quarter valued at $27,000. Values First Advisors Inc. bought a new position in shares of Syndax Pharmaceuticals during the 3rd quarter worth about $30,000. nVerses Capital LLC bought a new position in shares of Syndax Pharmaceuticals during the 2nd quarter worth about $33,000. Quantbot Technologies LP acquired a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter valued at about $49,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Syndax Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company's stock valued at $58,000 after acquiring an additional 541 shares during the period.

Syndax Pharmaceuticals Price Performance

Shares of SNDX traded down $0.39 during mid-day trading on Thursday, hitting $12.85. 4,823,931 shares of the company's stock were exchanged, compared to its average volume of 1,235,326. Syndax Pharmaceuticals, Inc. has a 52 week low of $12.79 and a 52 week high of $25.34. The company has a market cap of $1.10 billion, a PE ratio of -3.54 and a beta of 0.86. The company has a 50-day simple moving average of $17.53 and a 200 day simple moving average of $19.33.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the previous year, the firm posted ($0.73) earnings per share. On average, analysts anticipate that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SNDX. StockNews.com cut shares of Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Saturday, November 23rd. The Goldman Sachs Group raised their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. UBS Group began coverage on Syndax Pharmaceuticals in a research report on Thursday, October 24th. They issued a "buy" rating and a $37.00 price target on the stock. HC Wainwright reissued a "buy" rating and set a $51.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, December 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.64.

Syndax Pharmaceuticals Profile

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).