Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $36.20 Average Target Price from Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been assigned an average recommendation of “Moderate Buy” from the ten analysts that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $36.20.

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. StockNews.com downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. UBS Group started coverage on Syndax Pharmaceuticals in a research report on Thursday, October 24th. They set a “buy” rating and a $37.00 target price on the stock. The Goldman Sachs Group increased their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, December 10th.

Syndax Pharmaceuticals Stock Up 8.4 %

SNDX stock opened at $15.99 on Friday. The firm has a market cap of $1.36 billion, a PE ratio of -4.40 and a beta of 0.90. The business has a 50 day moving average of $13.92 and a 200-day moving average of $17.00. Syndax Pharmaceuticals has a 12-month low of $12.06 and a 12-month high of $25.34.

Insider Transactions at Syndax Pharmaceuticals

In other news, insider Neil Gallagher sold 4,618 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $71,579.00. Following the sale, the insider now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $205,964.00. Following the completion of the sale, the chief executive officer now directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. This represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,683 shares of company stock valued at $336,087. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors have recently modified their holdings of the business. Simplify Asset Management Inc. boosted its position in shares of Syndax Pharmaceuticals by 62.5% during the third quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock valued at $2,352,000 after buying an additional 46,992 shares during the last quarter. Franklin Resources Inc. boosted its position 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 buying an additional 208,043 shares during the last quarter. State Street Corp boosted its position in shares of Syndax Pharmaceuticals by 4.1% during the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock valued at $72,588,000 after buying an additional 148,491 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Syndax Pharmaceuticals by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company’s stock valued at $13,397,000 after buying an additional 41,458 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Syndax Pharmaceuticals by 143.4% during the third quarter. Barclays PLC now owns 187,629 shares of the company’s stock valued at $3,612,000 after buying an additional 110,535 shares during the last quarter.

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).