Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $36.00 Consensus Target Price from Brokerages

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have received an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $36.00.

SNDX has been the subject of several analyst reports. Citigroup reduced their target price on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. JPMorgan Chase & Co. raised their target price on shares of Syndax Pharmaceuticals from $35.00 to $39.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. StockNews.com lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Finally, 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 report on Wednesday, January 8th.

Insider Buying and Selling

In other news, CFO Keith A. Goldan sold 3,777 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $58,543.50. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael A. Metzger sold 13,288 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 of the company’s stock, valued at approximately $4,651,875.50. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,683 shares of company stock worth $336,087. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd bought a new stake in Syndax Pharmaceuticals in the fourth quarter worth $26,000. Quantbot Technologies LP bought a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter worth about $49,000. Virtus ETF Advisers LLC boosted its stake in shares of Syndax Pharmaceuticals by 18.6% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock worth $70,000 after acquiring an additional 827 shares in the last quarter. Cape Investment Advisory Inc. increased its holdings in shares of Syndax Pharmaceuticals by 157.1% during the 4th quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company’s stock valued at $85,000 after acquiring an additional 3,927 shares during the last quarter. Finally, KBC Group NV raised its stake in shares of Syndax Pharmaceuticals by 104.8% in the 4th quarter. KBC Group NV now owns 6,954 shares of the company’s stock valued at $92,000 after acquiring an additional 3,559 shares in the last quarter.

Syndax Pharmaceuticals Price Performance

Shares of SNDX opened at $13.12 on Thursday. Syndax Pharmaceuticals has a 12-month low of $12.06 and a 12-month high of $25.07. The stock has a market capitalization of $1.13 billion, a P/E ratio of -3.61 and a beta of 0.92. The firm’s 50 day moving average is $14.22 and its 200-day moving average is $16.18.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $86.32 million. As a group, equities research analysts forecast that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

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).