Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX – Get Rating) have been given a consensus recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $33.57.

Several equities analysts recently weighed in on SNDX shares. JPMorgan Chase & Co. dropped their price target on shares of Syndax Pharmaceuticals from $41.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 7th. Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $29.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, March 2nd. Stifel Nicolaus initiated coverage on shares of Syndax Pharmaceuticals in a research report on Monday, January 30th. They set a “buy” rating and a $37.00 target price on the stock. StockNews.com initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday. They set a “sell” rating on the stock. Finally, The Goldman Sachs Group dropped their target price on shares of Syndax Pharmaceuticals from $39.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, March 1st.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, Director Pierre Legault sold 24,000 shares of the business’s stock in a transaction on Thursday, January 12th. The stock was sold at an average price of $26.74, for a total value of $641,760.00. Following the sale, the director now directly owns 32,000 shares of the company’s stock, valued at $855,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Pierre Legault sold 24,000 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Thursday, January 12th. The shares were sold at an average price of $26.74, for a total value of $641,760.00. Following the completion of the sale, the director now directly owns 32,000 shares in the company, valued at $855,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael A. Metzger sold 5,959 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $27.64, for a total transaction of $164,706.76. Following the completion of the sale, the chief executive officer now owns 17,659 shares of the company’s stock, valued at $488,094.76. The disclosure for this sale can be found here. Insiders have sold 160,667 shares of company stock worth $4,061,340 over the last ninety days. 6.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Jennison Associates LLC purchased a new position in Syndax Pharmaceuticals during the third quarter valued at approximately $39,645,000. Braidwell LP purchased a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth $31,629,000. Deerfield Management Company L.P. Series C purchased a new position in shares of Syndax Pharmaceuticals in the second quarter worth $21,378,000. Point72 Asset Management L.P. purchased a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth $23,501,000. Finally, Commodore Capital LP purchased a new position in shares of Syndax Pharmaceuticals in the third quarter worth $17,737,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX opened at $22.25 on Friday. The firm’s 50 day simple moving average is $25.56 and its 200 day simple moving average is $24.23. The company has a market cap of $1.52 billion, a PE ratio of -9.08 and a beta of 1.04. Syndax Pharmaceuticals has a one year low of $13.27 and a one year high of $29.86.

Syndax Pharmaceuticals (NASDAQ:SNDX – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.02. Equities research analysts expect that Syndax Pharmaceuticals will post -3.04 EPS for the current year.

About Syndax Pharmaceuticals

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Syndax Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the development of cancer therapies. Its product candidates include SNDX-5613 and SNDX-6352. The company was founded by Richard A. Heyman, Eckard Weber, Peter Ordentlich, Ronald M. Evans and Michael Downes on October 11, 2005 and is headquartered in Waltham, MA.