Analysts Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Target Price at $36.00

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have received a consensus recommendation of “Moderate Buy” from the ten ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $36.00.

A number of brokerages have issued reports on SNDX. JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. 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 report on Tuesday, March 4th. 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 report on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. Finally, StockNews.com cut Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd.

Syndax Pharmaceuticals Stock Up 0.7 %

Shares of SNDX stock opened at $13.04 on Thursday. The business has a 50 day moving average of $14.26 and a two-hundred day moving average of $16.25. Syndax Pharmaceuticals has a 52 week low of $12.06 and a 52 week high of $25.07. The company has a market cap of $1.12 billion, a P/E ratio of -3.59 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) 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 during the quarter, compared to the consensus estimate of $86.32 million. Analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insider Activity

In other news, insider Neil Gallagher sold 4,618 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $71,579.00. Following the completion of the sale, the insider now owns 85,095 shares in the company, valued at $1,318,972.50. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith A. Goldan sold 3,777 shares of the stock in a transaction 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 completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 21,683 shares of company stock worth $336,087. Insiders own 4.10% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds have recently modified their holdings of the business. Polar Asset Management Partners Inc. purchased a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at $1,124,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Syndax Pharmaceuticals by 23.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,100 shares of the company’s stock worth $2,249,000 after purchasing an additional 32,653 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Syndax Pharmaceuticals in the 4th quarter worth about $1,045,000. Soleus Capital Management L.P. raised its stake in shares of Syndax Pharmaceuticals by 128.4% during the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after purchasing an additional 1,401,016 shares in the last quarter. Finally, Twinbeech Capital LP lifted its holdings in shares of Syndax Pharmaceuticals by 79.2% during the 4th quarter. Twinbeech Capital LP now owns 355,900 shares of the company’s stock valued at $4,705,000 after buying an additional 157,321 shares during the last quarter.

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).