Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Up 5.5% Following Analyst Upgrade

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report)'s stock price was up 5.5% on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $39.00 to $41.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Syndax Pharmaceuticals traded as high as $13.51 and last traded at $13.84. Approximately 164,424 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 1,439,839 shares. The stock had previously closed at $13.12.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, November 23rd. Scotiabank decreased their price target on Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating for the company in a report on Wednesday, January 8th. HC Wainwright reaffirmed a "buy" rating and set a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Finally, Citigroup decreased their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $36.20.

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Insider Buying and Selling

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,777 shares of Syndax Pharmaceuticals stock in a transaction 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 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 document filed with the SEC, which is available through this hyperlink. Also, CEO Michael A. Metzger sold 13,288 shares of the company's stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $205,964.00. Following the sale, the chief executive officer now directly owns 300,121 shares of the company's stock, valued at $4,651,875.50. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,683 shares of company stock worth $336,087 in the last 90 days. Insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of SNDX. Quest Partners LLC raised its holdings in Syndax Pharmaceuticals by 31.0% in the 3rd quarter. Quest Partners LLC now owns 17,858 shares of the company's stock valued at $344,000 after acquiring an additional 4,223 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at approximately $15,165,000. Intech Investment Management LLC purchased a new position in Syndax Pharmaceuticals during the third quarter worth approximately $429,000. Charles Schwab Investment Management Inc. boosted its stake in Syndax Pharmaceuticals by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company's stock worth $13,397,000 after buying an additional 41,458 shares during the last quarter. Finally, FMR LLC grew its holdings in Syndax Pharmaceuticals by 33.6% in the 3rd quarter. FMR LLC now owns 49,248 shares of the company's stock valued at $948,000 after buying an additional 12,377 shares in the last quarter.

Syndax Pharmaceuticals Trading Down 1.8 %

The firm has a fifty day moving average price of $14.24 and a 200 day moving average price of $16.06. The firm has a market cap of $1.16 billion, a PE ratio of -3.71 and a beta of 0.92.

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 business had revenue of $7.68 million for the quarter, compared to the consensus estimate of $86.32 million. As a group, equities analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current 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).