Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded at StockNews.com

StockNews.com upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) to a sell rating in a report published on Wednesday.

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

Syndax Pharmaceuticals Stock Performance

SNDX opened at $11.25 on Wednesday. Syndax Pharmaceuticals has a twelve month low of $11.09 and a twelve month high of $25.07. The business has a 50 day moving average price of $14.13 and a 200 day moving average price of $15.68. The firm has a market cap of $967.77 million, a P/E ratio of -3.10 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The firm had revenue of $7.68 million for the quarter, compared to analyst estimates of $86.32 million. As a group, analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, insider Neil Gallagher sold 4,618 shares of the business’s 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 sale, the insider now owns 85,095 shares of the company’s stock, valued at $1,318,972.50. The trade was a 5.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith A. Goldan sold 3,777 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 $58,543.50. Following the transaction, the chief financial officer now owns 90,746 shares of the company’s stock, valued at $1,406,563. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,683 shares of company stock valued at $336,087 in the last 90 days. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp lifted its holdings in Syndax Pharmaceuticals by 4.1% during the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock valued at $72,588,000 after purchasing an additional 148,491 shares during the last quarter. Soleus Capital Management L.P. increased its holdings in shares of Syndax Pharmaceuticals by 128.4% during the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after buying an additional 1,401,016 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Syndax Pharmaceuticals by 343.0% in 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 acquiring an additional 1,598,428 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Syndax Pharmaceuticals by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after acquiring an additional 66,459 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Syndax Pharmaceuticals by 13.4% during the 3rd 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 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).