Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $36.00 Consensus PT from Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have received an average rating of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $36.00.

SNDX has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Syndax Pharmaceuticals from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. Scotiabank lowered their price objective on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup lowered 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 note on Tuesday, March 4th.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, insider Neil Gallagher sold 4,618 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 $71,579.00. Following the completion of the sale, the insider now directly owns 85,095 shares of the company’s stock, valued at $1,318,972.50. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Keith A. Goldan sold 3,777 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 $58,543.50. Following the sale, the chief financial officer now directly owns 90,746 shares of the company’s stock, valued at approximately $1,406,563. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,683 shares of company stock valued at $336,087 in the last three months. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its holdings in shares of 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 purchasing an additional 1,598,428 shares in the last quarter. Soleus Capital Management L.P. grew its holdings in shares of Syndax Pharmaceuticals by 128.4% in the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock valued at $32,944,000 after purchasing an additional 1,401,016 shares in the last quarter. Octagon Capital Advisors LP purchased a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at $11,951,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in shares of Syndax Pharmaceuticals in the third quarter valued at $15,165,000. Finally, Eventide Asset Management LLC purchased a new position in shares of Syndax Pharmaceuticals in the third quarter valued at $15,150,000.

Syndax Pharmaceuticals Stock Performance

SNDX opened at $12.95 on Thursday. The stock has a market capitalization of $1.11 billion, a P/E ratio of -3.57 and a beta of 0.92. The company’s 50-day simple moving average is $14.27 and its two-hundred day simple moving average is $16.33. Syndax Pharmaceuticals has a 52-week low of $12.06 and a 52-week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (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 analyst estimates of $86.32 million. Research analysts forecast that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

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).