Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Average Rating of "Moderate Buy" by Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) have been assigned a consensus rating of "Moderate Buy" from the ten analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $35.33.

Several brokerages have commented on SNDX. Jefferies Financial Group began coverage on Syndax Pharmaceuticals in a research note on Friday, June 28th. They issued a "buy" rating and a $37.00 target price for the company. Scotiabank downgraded Syndax Pharmaceuticals from a "strong-buy" rating to a "hold" rating in a research note on Friday, June 14th. Citigroup raised their target price on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a "buy" rating in a research note on Friday, August 16th. JPMorgan Chase & Co. cut their target price on Syndax Pharmaceuticals from $34.00 to $33.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. Finally, Bank of America raised their target price on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Thursday, August 15th.

Syndax Pharmaceuticals Trading Up 1.3 %

Shares of SNDX stock traded up $0.26 on Friday, hitting $20.58. 532,062 shares of the stock were exchanged, compared to its average volume of 1,089,607. The firm has a market capitalization of $1.75 billion, a PE ratio of -6.39 and a beta of 0.94. Syndax Pharmaceuticals has a one year low of $11.22 and a one year high of $25.34. The firm's 50 day moving average is $21.26 and its two-hundred day moving average is $21.65.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.11. The firm had revenue of $3.50 million for the quarter. The business's revenue for the quarter was up 3499999990.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.64) EPS. On average, sell-side analysts expect that Syndax Pharmaceuticals will post -3.66 earnings per share for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, CFO Keith A. Goldan acquired 1,250 shares of the firm's stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $20.03 per share, with a total value of $25,037.50. Following the acquisition, the chief financial officer now owns 52,623 shares in the company, valued at approximately $1,054,038.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of large investors have recently modified their holdings of SNDX. BVF Inc. IL purchased a new position in Syndax Pharmaceuticals in the 4th quarter worth approximately $40,519,000. Avoro Capital Advisors LLC increased its stake in Syndax Pharmaceuticals by 65.2% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company's stock worth $91,242,000 after purchasing an additional 1,666,667 shares during the period. Kynam Capital Management LP increased its stake in Syndax Pharmaceuticals by 41.5% in the 4th quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company's stock worth $122,313,000 after purchasing an additional 1,660,000 shares during the period. Franklin Resources Inc. purchased a new position in Syndax Pharmaceuticals in the 4th quarter worth approximately $29,236,000. Finally, Avidity Partners Management LP increased its stake in Syndax Pharmaceuticals by 40.0% in the 4th quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company's stock worth $85,360,000 after purchasing an additional 1,129,000 shares during the period.

Syndax Pharmaceuticals Company 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).