Syndax Pharmaceuticals’ (SNDX) “Buy” Rating Reiterated at HC Wainwright

Syndax Pharmaceuticals (NASDAQ:SNDX)‘s stock had its “buy” rating reissued by HC Wainwright in a note issued to investors on Tuesday,Benzinga reports. They presently have a $51.00 price objective on the stock. HC Wainwright’s target price would suggest a potential upside of 229.46% from the stock’s previous close.

Other analysts have also recently issued reports about the stock. Scotiabank reduced their price objective on shares of 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. StockNews.com downgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. Citigroup upped their price target on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group lifted their price objective on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. increased their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Syndax Pharmaceuticals Trading Down 1.0 %

Shares of NASDAQ:SNDX opened at $15.48 on Tuesday. Syndax Pharmaceuticals has a 1 year low of $12.06 and a 1 year high of $25.16. The firm has a fifty day moving average price of $14.23 and a 200 day moving average price of $16.75. The stock has a market capitalization of $1.32 billion, a PE ratio of -4.26 and a beta of 0.90.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). On average, sell-side analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In related news, CFO Keith A. Goldan sold 3,777 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $58,543.50. Following the completion of the transaction, the chief financial officer now directly owns 90,746 shares of the company’s stock, valued at $1,406,563. This trade represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of the business’s stock in a transaction 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 in the company, valued at $1,318,972.50. This trade represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SNDX. Simplify Asset Management Inc. lifted its position in shares of Syndax Pharmaceuticals by 62.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock worth $2,352,000 after buying an additional 46,992 shares during the period. Franklin Resources Inc. boosted its stake in shares of Syndax Pharmaceuticals by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock valued at $34,948,000 after purchasing an additional 208,043 shares in the last quarter. State Street Corp boosted 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 in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Syndax Pharmaceuticals by 6.3% in 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 last quarter. Finally, Barclays PLC lifted its holdings in Syndax Pharmaceuticals by 143.4% during the 3rd quarter. Barclays PLC now owns 187,629 shares of the company’s stock valued at $3,612,000 after purchasing an additional 110,535 shares during the last quarter.

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).