JPMorgan Chase & Co. Issues Positive Forecast for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price raised by JPMorgan Chase & Co. from $33.00 to $45.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

SNDX has been the subject of a number of other reports. BTIG Research reissued a “buy” rating and issued a $56.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday. Stifel Nicolaus set a $45.00 price objective on shares of Syndax Pharmaceuticals in a research note on Friday, February 27th. Finally, Barclays boosted their target price on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $39.10.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $23.88 on Monday. The stock has a 50 day moving average of $20.94 and a 200 day moving average of $18.34. Syndax Pharmaceuticals has a 12 month low of $8.58 and a 12 month high of $24.84. The firm has a market cap of $2.11 billion, a PE ratio of -7.26 and a beta of 0.42. The company has a current ratio of 4.40, a quick ratio of 4.12 and a debt-to-equity ratio of 5.32.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.14). The firm had revenue of $68.73 million for the quarter, compared to analysts’ expectations of $64.75 million. Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The business’s quarterly revenue was up 792.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.10) EPS. On average, research analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insider Activity at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 17,159 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the sale, the chief executive officer directly owned 491,690 shares in the company, valued at $10,340,240.70. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Keith A. Goldan sold 3,410 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 9th. The stock was sold at an average price of $21.03, for a total transaction of $71,712.30. Following the transaction, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at $2,953,221.87. The trade was a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 30,063 shares of company stock worth $628,332. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its stake in shares of Syndax Pharmaceuticals by 2,698.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after purchasing an additional 2,564 shares during the period. Larson Financial Group LLC grew its holdings in Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after purchasing an additional 1,922 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Syndax Pharmaceuticals in the 3rd quarter worth about $53,000. Mirae Asset Global Investments Co. Ltd. raised its position in Syndax Pharmaceuticals by 26.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after purchasing an additional 893 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Syndax Pharmaceuticals in the second quarter worth about $66,000.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.