Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Lowered to $33.00 at JPMorgan Chase & Co.

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target cut by JPMorgan Chase & Co. from $40.00 to $33.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on SNDX. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. Stifel Nicolaus assumed coverage on Syndax Pharmaceuticals in a research note on Wednesday, September 10th. They issued a “buy” rating and a $44.00 price objective for the company. Citigroup increased their target price on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. UBS Group raised their target price on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Finally, BTIG Research reiterated a “buy” rating and set a $56.00 price target on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.90.

Syndax Pharmaceuticals Trading Down 0.8%

NASDAQ:SNDX traded down $0.13 during trading hours on Wednesday, hitting $16.66. The company had a trading volume of 4,569,599 shares, compared to its average volume of 2,380,843. Syndax Pharmaceuticals has a 1 year low of $8.58 and a 1 year high of $18.00. The company has a market cap of $1.45 billion, a P/E ratio of -4.28 and a beta of 0.73. The company has a 50-day moving average of $15.28 and a 200 day moving average of $12.73. The company has a current ratio of 4.71, a quick ratio of 4.55 and a debt-to-equity ratio of 2.06.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The firm had revenue of $45.87 million for the quarter, compared to analysts’ expectations of $49.08 million. During the same quarter in the previous year, the company posted ($0.98) EPS. The company’s revenue was up 266.4% compared to the same quarter last year. Sell-side analysts expect that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

Insider Transactions at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 157,307 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $16.41, for a total transaction of $2,581,407.87. Following the transaction, the chief executive officer owned 298,661 shares in the company, valued at $4,901,027.01. This trade represents a 34.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dennis Podlesak sold 19,200 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $15.84, for a total value of $304,128.00. Following the completion of the sale, the director owned 191,763 shares of the company’s stock, valued at approximately $3,037,525.92. This represents a 9.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 195,707 shares of company stock worth $3,183,904 in the last quarter. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Quarry LP purchased a new stake in Syndax Pharmaceuticals in the 1st quarter valued at $25,000. Quantbot Technologies LP acquired a new position in Syndax Pharmaceuticals in the third quarter valued at $53,000. Lazard Asset Management LLC purchased a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at about $66,000. Tower Research Capital LLC TRC boosted its stake in shares of Syndax Pharmaceuticals by 103.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after buying an additional 4,308 shares during the period. Finally, Prudential Financial Inc. purchased a new position in shares of Syndax Pharmaceuticals during the second quarter worth about $97,000.

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).