Stifel Nicolaus Raises Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $42.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price upped by Stifel Nicolaus from $40.00 to $42.00 in a report issued on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. HC Wainwright reissued a buy rating and set a $41.00 price objective on shares of Syndax Pharmaceuticals in a research report on Monday, June 17th. Scotiabank downgraded Syndax Pharmaceuticals from a strong-buy rating to a hold rating in a research note on Friday, June 14th. Citigroup lowered their price objective on Syndax Pharmaceuticals from $32.00 to $30.00 and set a buy rating on the stock in a research report on Thursday, May 9th. Finally, JPMorgan Chase & Co. reissued an overweight rating and issued a $34.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $34.77.

Syndax Pharmaceuticals Stock Performance

SNDX stock opened at $20.53 on Wednesday. The company has a market cap of $1.74 billion, a price-to-earnings ratio of -6.38 and a beta of 1.01. The business’s 50-day moving average is $20.49 and its two-hundred day moving average is $21.48. Syndax Pharmaceuticals has a fifty-two week low of $11.22 and a fifty-two week high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.85) earnings per share for the quarter, topping the consensus estimate of ($0.96) by $0.11. During the same quarter in the prior year, the firm posted ($0.59) earnings per share. Equities analysts predict that Syndax Pharmaceuticals will post -3.56 earnings per share for the current year.

Insider Activity

In related news, CFO Keith A. Goldan bought 1,250 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of $20.03 per share, for a total transaction of $25,037.50. Following the completion of the transaction, the chief financial officer now owns 52,623 shares in the company, valued at $1,054,038.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in Syndax Pharmaceuticals by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 7,642,446 shares of the company’s stock worth $110,968,000 after acquiring an additional 198,262 shares during the last quarter. Kynam Capital Management LP raised its stake in Syndax Pharmaceuticals by 41.5% during the fourth quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company’s stock valued at $122,313,000 after purchasing an additional 1,660,000 shares in the last quarter. Vanguard Group Inc. lifted its position in Syndax Pharmaceuticals by 13.6% during the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after purchasing an additional 591,631 shares during the last quarter. Avoro Capital Advisors LLC grew its stake in shares of Syndax Pharmaceuticals by 65.2% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock worth $91,242,000 after buying an additional 1,666,667 shares in the last quarter. Finally, Avidity Partners Management LP increased its holdings in shares of Syndax Pharmaceuticals by 40.0% in the 4th quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock worth $85,360,000 after buying an additional 1,129,000 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).