Syndax Pharmaceuticals (NASDAQ:SNDX) Raised to “Sell” at StockNews.com

Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by investment analysts at StockNews.com to a “sell” rating in a report released on Thursday.

A number of other research analysts have also commented on the stock. 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. Citigroup lowered their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price objective on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $11.52 on Thursday. The stock has a market cap of $991.23 million, a price-to-earnings ratio of -3.17 and a beta of 1.28. Syndax Pharmaceuticals has a 1 year low of $9.66 and a 1 year high of $25.07. The business has a fifty day moving average of $13.81 and a 200-day moving average of $15.43.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The company had revenue of $7.68 million for the quarter, compared to analysts’ expectations of $86.32 million. On average, equities research analysts predict that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, insider Neil Gallagher sold 4,618 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 85,095 shares of the company’s stock, valued at approximately $1,318,972.50. The trade was a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $205,964.00. Following the completion of the sale, the chief executive officer now directly owns 300,121 shares of the company’s stock, valued at approximately $4,651,875.50. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its position in Syndax Pharmaceuticals by 343.0% during 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 purchasing an additional 1,598,428 shares in the last quarter. Soleus Capital Management L.P. boosted its stake in shares of Syndax Pharmaceuticals by 128.4% during the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock valued at $32,944,000 after buying an additional 1,401,016 shares during the period. Octagon Capital Advisors LP purchased a new position in shares of Syndax Pharmaceuticals during the 4th quarter valued at $11,951,000. Renaissance Technologies LLC acquired a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth $9,002,000. Finally, Trexquant Investment LP raised its holdings in shares of Syndax Pharmaceuticals by 1,309.7% during the fourth quarter. Trexquant Investment LP now owns 471,292 shares of the company’s stock worth $6,230,000 after acquiring an additional 437,859 shares in 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).