StockNews.com Upgrades Syndax Pharmaceuticals (NASDAQ:SNDX) to Sell

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

A number of other research firms have also recently weighed in on SNDX. JPMorgan Chase & Co. upped their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a research report on Thursday, March 20th. HC Wainwright reaffirmed a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Scotiabank lowered their price objective on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 8th. Finally, Citigroup reduced their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.20.

Syndax Pharmaceuticals Stock Up 1.1 %

Shares of NASDAQ SNDX traded up $0.13 during trading hours on Thursday, hitting $11.37. 207,420 shares of the stock were exchanged, compared to its average volume of 1,569,005. The firm has a fifty day moving average price of $13.60 and a 200-day moving average price of $15.26. The company has a market cap of $977.89 million, a PE ratio of -3.12 and a beta of 1.28. Syndax Pharmaceuticals has a 12 month low of $9.66 and a 12 month high of $25.07.

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Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share 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 analysts' expectations of $86.32 million. As a group, equities analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Keith A. Goldan sold 3,777 shares of the business'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 $58,543.50. Following the sale, the chief financial officer now owns 90,746 shares of the company's stock, valued at $1,406,563. The trade was a 4.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael A. Metzger sold 13,288 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 $205,964.00. Following the completion of the sale, the chief executive officer now directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Syndax Pharmaceuticals

A number of large investors have recently made changes to their positions in the stock. State Street Corp lifted its position in 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 buying an additional 148,491 shares during the period. Soleus Capital Management L.P. raised its holdings in 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 valued at $32,944,000 after acquiring an additional 1,401,016 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Syndax Pharmaceuticals by 343.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company's stock valued at $27,292,000 after buying an additional 1,598,428 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Syndax Pharmaceuticals by 3.5% in the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company's stock worth $38,066,000 after purchasing an additional 66,459 shares during the period. Finally, Franklin Resources Inc. raised its stake in Syndax Pharmaceuticals by 13.4% during the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company's stock worth $34,948,000 after acquiring an additional 208,043 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).