Scotiabank Issues Positive Forecast for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target lifted by Scotiabank from $16.00 to $17.00 in a research note released on Tuesday,Benzinga reports. They currently have a sector perform rating on the stock.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Guggenheim restated a “buy” rating and issued a $32.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday. StockNews.com upgraded Syndax Pharmaceuticals to a “sell” rating in a report on Thursday, April 10th. HC Wainwright restated a “buy” rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. Finally, Citigroup cut their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.91.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock opened at $10.64 on Tuesday. The firm’s 50 day moving average price is $12.76 and its two-hundred day moving average price is $14.57. Syndax Pharmaceuticals has a 52-week low of $9.66 and a 52-week high of $25.07. The stock has a market cap of $915.51 million, a PE ratio of -2.93 and a beta of 0.82.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.24) by $0.26. The company had revenue of $20.04 million for the quarter, compared to analyst estimates of $15.88 million. During the same period last year, the firm earned ($0.85) earnings per share. The firm’s revenue for the quarter was up 1900.0% on a year-over-year basis. As a group, sell-side analysts predict that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Activity at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 13,288 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $205,964.00. Following the completion of the transaction, the chief executive officer now owns 300,121 shares in the company, valued at approximately $4,651,875.50. This trade represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of the company’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 $71,579.00. Following the completion of the sale, the insider now owns 85,095 shares in the company, valued at $1,318,972.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,683 shares of company stock valued at $336,087. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several large investors have recently modified their holdings of SNDX. Soleus Capital Management L.P. boosted its holdings in shares of Syndax Pharmaceuticals by 128.4% during the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after acquiring an additional 1,401,016 shares during the period. Assenagon Asset Management S.A. increased its position in Syndax Pharmaceuticals by 343.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock worth $27,292,000 after buying an additional 1,598,428 shares during the period. Franklin Resources Inc. lifted its holdings 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 worth $34,948,000 after buying an additional 208,043 shares in the last quarter. Sphera Funds Management LTD. boosted its position in shares of Syndax Pharmaceuticals by 33.5% in the fourth quarter. Sphera Funds Management LTD. now owns 1,381,241 shares of the company’s stock valued at $18,260,000 after acquiring an additional 346,395 shares during the period. Finally, Granahan Investment Management LLC increased its position in Syndax Pharmaceuticals by 36.2% during the fourth quarter. Granahan Investment Management LLC now owns 905,322 shares of the company’s stock worth $11,968,000 after acquiring an additional 240,557 shares during the period.

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).