Syndax Pharmaceuticals (NASDAQ:SNDX) Raised to Sell at StockNews.com

Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by analysts at StockNews.com to a “sell” rating in a research report issued on Wednesday.

Several other analysts have also recently issued reports on the stock. Citigroup decreased their target price 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, March 4th. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Scotiabank lowered 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. Finally, JPMorgan Chase & Co. increased their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $12.01 on Wednesday. The business’s fifty day moving average is $14.25 and its 200 day moving average is $15.77. Syndax Pharmaceuticals has a fifty-two week low of $11.63 and a fifty-two week high of $25.07. The company has a market capitalization of $1.03 billion, a PE ratio of -3.31 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued 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 business had revenue of $7.68 million during the quarter, compared to analyst estimates of $86.32 million. On average, sell-side analysts forecast that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals 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 transaction, the insider now directly owns 85,095 shares of the company’s stock, valued at $1,318,972.50. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael A. Metzger sold 13,288 shares of the 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 $205,964.00. Following the completion of the sale, the chief executive officer now directly owns 300,121 shares of the company’s stock, valued at approximately $4,651,875.50. This trade 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 valued at $336,087 over the last quarter. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors have recently made changes to their positions in the company. Franklin Resources Inc. grew its position 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. State Street Corp lifted its stake in shares of Syndax Pharmaceuticals by 4.1% in the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock valued at $72,588,000 after purchasing an additional 148,491 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Syndax Pharmaceuticals by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company’s stock worth $13,397,000 after purchasing an additional 41,458 shares during the period. Barclays PLC increased its position in shares of Syndax Pharmaceuticals by 143.4% during the 3rd quarter. Barclays PLC now owns 187,629 shares of the company’s stock worth $3,612,000 after purchasing an additional 110,535 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in Syndax Pharmaceuticals by 319.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 81,302 shares of the company’s stock valued at $1,565,000 after buying an additional 61,916 shares during the period.

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).