Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target lifted by research analysts at JPMorgan Chase & Co. from $35.00 to $39.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 169.34% from the company’s previous close.

Several other research firms also recently weighed in on SNDX. Scotiabank dropped their price objective on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 8th. StockNews.com cut Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Citigroup decreased their price objective on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday. HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday. Finally, The Goldman Sachs Group lifted 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $14.48 on Tuesday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -3.99 and a beta of 0.90. Syndax Pharmaceuticals has a 1 year low of $12.06 and a 1 year high of $25.16. The stock has a fifty day moving average price of $14.29 and a two-hundred day moving average price of $16.69.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly 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 firm had revenue of $7.68 million for the quarter, compared to analyst estimates of $86.32 million. On average, analysts predict that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Insiders Place Their Bets

In related news, insider Neil Gallagher sold 4,618 shares of the company’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 transaction of $71,579.00. Following the completion of the transaction, the insider now owns 85,095 shares of the company’s stock, valued at approximately $1,318,972.50. This represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Keith A. Goldan sold 3,777 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $58,543.50. Following the completion of the transaction, the chief financial officer now owns 90,746 shares in the company, valued at approximately $1,406,563. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,683 shares of company stock valued at $336,087. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Syndax Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after acquiring an additional 541 shares during the period. Virtus ETF Advisers LLC increased its holdings in Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock valued at $70,000 after purchasing an additional 827 shares in the last quarter. E Fund Management Co. Ltd. increased its holdings in Syndax Pharmaceuticals by 14.4% in the 4th quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company’s stock valued at $167,000 after purchasing an additional 1,583 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its position in Syndax Pharmaceuticals by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company’s stock valued at $239,000 after purchasing an additional 1,732 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Syndax Pharmaceuticals by 3.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company’s stock worth $706,000 after purchasing an additional 1,811 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).