Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded to Sell by StockNews.com

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

A number of other analysts have also recently commented on SNDX. Guggenheim boosted their price target on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a buy rating in a research report on Monday, July 24th. B. Riley upped their price target on shares of Syndax Pharmaceuticals from $34.00 to $36.00 and gave the stock a buy rating in a research note on Tuesday, July 25th. JPMorgan Chase & Co. dropped their price target on shares of Syndax Pharmaceuticals from $36.00 to $33.00 and set an overweight rating on the stock in a research note on Wednesday, August 16th. Scotiabank assumed coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, July 27th. They issued an outperform rating on the stock. Finally, Barclays upped their price target on shares of Syndax Pharmaceuticals from $31.00 to $34.00 and gave the stock an overweight rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $36.00.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX opened at $18.05 on Thursday. Syndax Pharmaceuticals has a 1 year low of $17.62 and a 1 year high of $29.86. The business’s 50-day moving average is $19.80 and its 200 day moving average is $20.96.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, August 3rd. The company reported ($0.64) earnings per share for the quarter, beating the consensus estimate of ($0.73) by $0.09. During the same quarter in the prior year, the firm posted ($0.62) earnings per share. As a group, research analysts predict that Syndax Pharmaceuticals will post -2.94 EPS for the current fiscal year.

Insider Activity

In other news, Director Briggs Morrison sold 52,855 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $18.27, for a total transaction of $965,660.85. Following the transaction, the director now directly owns 17,836 shares of the company’s stock, valued at approximately $325,863.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director William Meury sold 83,000 shares of Syndax Pharmaceuticals stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $20.46, for a total transaction of $1,698,180.00. Following the transaction, the director now owns 48,000 shares in the company, valued at approximately $982,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Briggs Morrison sold 52,855 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $18.27, for a total value of $965,660.85. Following the completion of the sale, the director now owns 17,836 shares of the company’s stock, valued at $325,863.72. The disclosure for this sale can be found here. Insiders have sold 189,287 shares of company stock valued at $3,754,956 in the last ninety days. 4.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Braidwell LP bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth about $31,629,000. Point72 Asset Management L.P. bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth about $23,501,000. BVF Inc. IL raised its stake in shares of Syndax Pharmaceuticals by 47.7% in the first quarter. BVF Inc. IL now owns 2,143,197 shares of the company’s stock worth $45,264,000 after buying an additional 692,000 shares during the period. Barclays PLC raised its position in shares of Syndax Pharmaceuticals by 249.3% during the 4th quarter. Barclays PLC now owns 963,336 shares of the company’s stock valued at $24,517,000 after purchasing an additional 687,577 shares during the period. Finally, Jennison Associates LLC raised its position in shares of Syndax Pharmaceuticals by 39.5% during the 4th quarter. Jennison Associates LLC now owns 2,302,246 shares of the company’s stock valued at $58,592,000 after purchasing an additional 652,451 shares during the period.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are SNDX-5613, which is in phase 1/2 clinical trial targeting the binding interaction of Menin with the mixed lineage leukemia 1 for the treatment of KMT2A rearranged (KMT2Ar) and nucleophosmin 1 mutant acute myeloid leukemia (NPM1); 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).