Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Average Rating of "Moderate Buy" from Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $36.20.

Several equities research analysts have commented on SNDX shares. Scotiabank dropped their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research note on Wednesday, January 8th. StockNews.com raised Syndax Pharmaceuticals to a "sell" rating in a research note on Thursday. HC Wainwright reissued a "buy" rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. JPMorgan Chase & Co. raised their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, March 20th. Finally, Citigroup reduced their price objective on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a report on Tuesday, March 4th.

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Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CFO Keith A. Goldan sold 3,777 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $58,543.50. Following the sale, the chief financial officer now directly owns 90,746 shares in the company, valued at $1,406,563. The trade was a 4.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Neil Gallagher sold 4,618 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $71,579.00. Following the sale, the insider now owns 85,095 shares of the company's stock, valued at $1,318,972.50. The trade was a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. raised its holdings in Syndax Pharmaceuticals by 343.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company's stock worth $27,292,000 after buying an additional 1,598,428 shares during the period. Soleus Capital Management L.P. increased its position in shares of Syndax Pharmaceuticals by 128.4% in the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company's stock worth $32,944,000 after acquiring an additional 1,401,016 shares in the last quarter. Octagon Capital Advisors LP acquired a new stake in shares of Syndax Pharmaceuticals during the fourth quarter valued at approximately $11,951,000. Renaissance Technologies LLC purchased a new stake in shares of Syndax Pharmaceuticals in the 4th quarter valued at approximately $9,002,000. Finally, Trexquant Investment LP lifted its position in shares of Syndax Pharmaceuticals by 1,309.7% in the 4th quarter. Trexquant Investment LP now owns 471,292 shares of the company's stock valued at $6,230,000 after acquiring an additional 437,859 shares in the last quarter.

Syndax Pharmaceuticals Trading Up 6.1 %

SNDX traded up $0.64 during trading on Monday, reaching $11.16. 1,366,716 shares of the company were exchanged, compared to its average volume of 1,570,462. Syndax Pharmaceuticals has a 52 week low of $9.66 and a 52 week high of $25.07. The firm has a 50 day moving average of $13.66 and a 200 day moving average of $15.33. The stock has a market cap of $960.25 million, a P/E ratio of -3.07 and a beta of 1.28.

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

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).