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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten research firms that are covering the company, MarketBeat 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 12 month target price among analysts that have issued ratings on the stock in the last year is $36.20.

A number of equities research analysts have weighed in on SNDX shares. Scotiabank reduced their target price on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 8th. StockNews.com lowered shares of Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, November 23rd. JPMorgan Chase & Co. increased their price objective on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, November 21st. Citigroup lifted their target price on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a "buy" rating in a report on Tuesday, November 19th. Finally, HC Wainwright reissued a "buy" rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th.

Syndax Pharmaceuticals Stock Up 0.8 %

Shares of SNDX stock traded up $0.11 during mid-day trading on Friday, reaching $14.73. 653,850 shares of the stock traded hands, compared to its average volume of 2,197,136. The stock's fifty day simple moving average is $13.87 and its two-hundred day simple moving average is $17.06. Syndax Pharmaceuticals has a 1-year low of $12.06 and a 1-year high of $25.34. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -4.06 and a beta of 0.90.

Insiders Place Their Bets

In other news, insider Neil Gallagher sold 4,618 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the transaction, the insider now owns 85,095 shares of the company's stock, valued at $1,318,972.50. This represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael A. Metzger sold 13,288 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the completion of the sale, the chief executive officer now owns 300,121 shares of the company's stock, valued at approximately $4,651,875.50. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,683 shares of company stock worth $336,087. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently modified their holdings of SNDX. Simplify Asset Management Inc. increased its stake in Syndax Pharmaceuticals by 62.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company's stock valued at $2,352,000 after purchasing an additional 46,992 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Syndax Pharmaceuticals by 13.4% during the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company's stock valued at $34,948,000 after buying an additional 208,043 shares during the last quarter. State Street Corp increased its position in shares of Syndax Pharmaceuticals by 4.1% during the third quarter. State Street Corp now owns 3,770,826 shares of the company's stock worth $72,588,000 after acquiring an additional 148,491 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Syndax Pharmaceuticals by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company's stock worth $13,397,000 after acquiring an additional 41,458 shares during the last quarter. Finally, Barclays PLC lifted its position in Syndax Pharmaceuticals by 143.4% in the 3rd quarter. Barclays PLC now owns 187,629 shares of the company's stock valued at $3,612,000 after acquiring an additional 110,535 shares in the last quarter.

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).