Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $36.00.

Several analysts have recently commented on the stock. Scotiabank lowered their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 8th. HC Wainwright reiterated a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. Citigroup dropped their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. StockNews.com lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Syndax Pharmaceuticals from $35.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th.

Insider Activity

In other news, insider Neil Gallagher sold 4,618 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,318,972.50. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Keith A. Goldan sold 3,777 shares of the firm’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 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 disclosure for this sale can be found here. Insiders sold 21,683 shares of company stock worth $336,087 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in SNDX. State Street Corp boosted its stake in Syndax Pharmaceuticals by 4.1% during the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after buying an additional 148,491 shares in the last quarter. Soleus Capital Management L.P. boosted its stake in 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 valued at $32,944,000 after buying an additional 1,401,016 shares in the last quarter. Assenagon Asset Management S.A. grew its position in 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 during the period. Geode Capital Management LLC raised its stake in 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 in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 13.4% during the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock valued at $34,948,000 after acquiring an additional 208,043 shares during the period.

Syndax Pharmaceuticals Stock Up 0.9 %

Shares of NASDAQ:SNDX opened at $13.12 on Thursday. Syndax Pharmaceuticals has a fifty-two week low of $12.06 and a fifty-two week high of $25.07. The firm’s 50-day simple moving average is $14.32 and its 200-day simple moving average is $16.44. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -3.61 and a beta of 0.92.

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

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).