Citigroup Boosts Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $45.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target lifted by equities researchers at Citigroup from $37.00 to $45.00 in a report released on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 182.13% from the company’s current price.

A number of other equities analysts have also recently issued reports on the stock. StockNews.com upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. lowered their target price on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. The Goldman Sachs Group boosted their target price on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Bank of America increased their target price on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Stifel Nicolaus lifted their target price on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.18.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ:SNDX opened at $15.95 on Tuesday. Syndax Pharmaceuticals has a one year low of $14.97 and a one year high of $25.34. The company has a market cap of $1.36 billion, a P/E ratio of -4.42 and a beta of 0.92. The business’s 50-day simple moving average is $18.76 and its 200 day simple moving average is $20.11.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same period in the prior year, the business earned ($0.73) earnings per share. Analysts predict that Syndax Pharmaceuticals will post -3.61 earnings per share for the current year.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Syndax Pharmaceuticals by 13.6% during the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after purchasing an additional 591,631 shares during the period. State Street Corp grew its position in shares of Syndax Pharmaceuticals by 4.1% during the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock valued at $72,588,000 after acquiring an additional 148,491 shares during the period. Sofinnova Investments Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 33.9% during the 2nd quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after purchasing an additional 545,129 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Syndax Pharmaceuticals by 3.5% during the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after acquiring an additional 66,459 shares during the period. Finally, First Turn Management LLC boosted its stake in Syndax Pharmaceuticals by 85.4% in the third quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock valued at $22,853,000 after acquiring an additional 546,776 shares in the last quarter.

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).