Bank of America Boosts Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $31.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective boosted by Bank of America from $30.00 to $31.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research analysts have also recently issued reports on the stock. Stifel Nicolaus upped their target price on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a buy rating in a report on Wednesday, June 26th. JPMorgan Chase & Co. dropped their price objective on Syndax Pharmaceuticals from $34.00 to $33.00 and set an overweight rating on the stock in a report on Tuesday, August 6th. Scotiabank cut Syndax Pharmaceuticals from a strong-buy rating to a hold rating in a research report on Friday, June 14th. Citigroup decreased their target price on Syndax Pharmaceuticals from $32.00 to $30.00 and set a buy rating for the company in a research report on Thursday, May 9th. Finally, HC Wainwright lifted their price target on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the stock a buy rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of Moderate Buy and a consensus price target of $35.33.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $19.93 on Thursday. The stock has a market cap of $1.70 billion, a PE ratio of -6.19 and a beta of 0.94. The stock’s fifty day moving average is $21.22 and its two-hundred day moving average is $21.69. Syndax Pharmaceuticals has a 1-year low of $11.22 and a 1-year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.91) by $0.11. The business had revenue of $3.50 million for the quarter. The business’s quarterly revenue was up 3499999990.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.64) earnings per share. On average, research analysts expect that Syndax Pharmaceuticals will post -3.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Keith A. Goldan bought 1,250 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $20.03 per share, with a total value of $25,037.50. Following the completion of the acquisition, the chief financial officer now owns 52,623 shares in the company, valued at approximately $1,054,038.69. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of Syndax Pharmaceuticals by 13.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 577,022 shares of the company’s stock valued at $12,469,000 after purchasing an additional 70,555 shares during the period. Trexquant Investment LP purchased a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $3,101,000. Vanguard Group Inc. boosted its stake in shares of Syndax Pharmaceuticals by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 4,335,353 shares of the company’s stock valued at $93,687,000 after buying an additional 718,051 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in shares of Syndax Pharmaceuticals by 35.3% in the fourth quarter. Point72 Asset Management L.P. now owns 2,834,499 shares of the company’s stock valued at $61,254,000 after buying an additional 740,298 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $1,053,000.

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).