Syndax Pharmaceuticals (NASDAQ:SNDX) Rating Increased to Sell at StockNews.com

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) was upgraded by research analysts at StockNews.com to a "sell" rating in a report released on Wednesday.

Several other analysts have also weighed in on the stock. HC Wainwright reiterated a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Scotiabank decreased their price objective on Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. increased their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Finally, Citigroup decreased their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $36.20.

Syndax Pharmaceuticals Stock Down 9.7 %

Syndax Pharmaceuticals stock traded down $1.21 during trading hours on Wednesday, hitting $11.25. The stock had a trading volume of 1,817,612 shares, compared to its average volume of 1,529,168. The company has a 50-day moving average of $14.13 and a two-hundred day moving average of $15.65. Syndax Pharmaceuticals has a fifty-two week low of $11.09 and a fifty-two week high of $25.07. The company has a market cap of $967.77 million, a PE ratio of -3.10 and a beta of 0.92.

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

Insider Transactions at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 13,288 shares of the company'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 transaction of $205,964.00. Following the transaction, the chief executive officer now directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. This represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith A. Goldan sold 3,777 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction 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. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,683 shares of company stock worth $336,087. Insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth $26,000. Quantbot Technologies LP acquired a new stake in Syndax Pharmaceuticals in the third quarter worth about $49,000. Virtus ETF Advisers LLC raised its holdings 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 purchasing an additional 827 shares during the last quarter. 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 valued at $85,000 after purchasing an additional 3,927 shares during the period. Finally, KBC Group NV lifted its position in Syndax Pharmaceuticals by 104.8% during the 4th quarter. KBC Group NV now owns 6,954 shares of the company's stock valued at $92,000 after purchasing an additional 3,559 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).