Syndax Pharmaceuticals (NASDAQ:SNDX) Receives Buy Rating from Guggenheim

Guggenheim reaffirmed their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a report published on Tuesday,Benzinga reports. The brokerage currently has a $32.00 price objective on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Citigroup decreased their price objective on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. JPMorgan Chase & Co. raised their price objective on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. StockNews.com upgraded Syndax Pharmaceuticals to a “sell” rating in a report on Thursday, April 10th. HC Wainwright restated a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Finally, Scotiabank lowered their target price 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 ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.91.

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock opened at $10.64 on Tuesday. Syndax Pharmaceuticals has a twelve month low of $9.66 and a twelve month high of $25.07. The firm has a market cap of $915.51 million, a PE ratio of -2.93 and a beta of 0.82. The firm’s 50 day moving average price is $12.76 and its two-hundred day moving average price is $14.57.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.26. The firm had revenue of $20.04 million for the quarter, compared to analyst estimates of $15.88 million. During the same period in the previous year, the business posted ($0.85) EPS. Syndax Pharmaceuticals’s revenue for the quarter was up 1900.0% on a year-over-year basis. Equities analysts anticipate that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals 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 $71,579.00. Following the sale, the insider now owns 85,095 shares of the company’s stock, valued at approximately $1,318,972.50. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith A. Goldan sold 3,777 shares of the company’s 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,683 shares of company stock valued at $336,087 over the last three months. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd bought a new position in Syndax Pharmaceuticals during the fourth quarter worth about $26,000. Virtus ETF Advisers LLC boosted its stake in Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock valued at $70,000 after buying an additional 827 shares in the last quarter. Cape Investment Advisory Inc. grew its position in Syndax Pharmaceuticals by 157.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company’s stock valued at $85,000 after acquiring an additional 3,927 shares during the period. KBC Group NV raised its stake in Syndax Pharmaceuticals by 104.8% during the fourth quarter. KBC Group NV now owns 6,954 shares of the company’s stock worth $92,000 after acquiring an additional 3,559 shares in the last quarter. Finally, Optimize Financial Inc bought a new position in shares of Syndax Pharmaceuticals during the fourth quarter valued at $152,000.

About Syndax Pharmaceuticals

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).