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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $36.20.

Several research analysts have recently weighed in on the company. HC Wainwright restated a “buy” rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. 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. Citigroup reduced their price target on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. Finally, StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a report on Thursday, April 10th.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,777 shares of the business’s 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 $58,543.50. Following the sale, the chief financial officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael A. Metzger sold 13,288 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the transaction, the chief executive officer now directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,683 shares of company stock worth $336,087 in the last three months. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Soleus Capital Management L.P. lifted its holdings in shares of Syndax Pharmaceuticals by 128.4% in the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after buying an additional 1,401,016 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Syndax Pharmaceuticals by 343.0% in 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 acquiring an additional 1,598,428 shares in the last quarter. Franklin Resources Inc. lifted its stake in Syndax Pharmaceuticals by 13.4% in the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after acquiring an additional 208,043 shares during the period. Sphera Funds Management LTD. grew its holdings in Syndax Pharmaceuticals by 33.5% during the 4th quarter. Sphera Funds Management LTD. now owns 1,381,241 shares of the company’s stock worth $18,260,000 after acquiring an additional 346,395 shares in the last quarter. Finally, Granahan Investment Management LLC increased its position in Syndax Pharmaceuticals by 36.2% during the 4th quarter. Granahan Investment Management LLC now owns 905,322 shares of the company’s stock valued at $11,968,000 after purchasing an additional 240,557 shares during the period.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $13.82 on Friday. The firm has a market cap of $1.19 billion, a P/E ratio of -3.81 and a beta of 1.28. Syndax Pharmaceuticals has a fifty-two week low of $9.66 and a fifty-two week high of $25.07. The firm has a 50-day simple moving average of $12.92 and a two-hundred day simple moving average of $14.75.

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

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).