Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been given an average rating of “Moderate Buy” by the eleven analysts that are currently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $35.91.

A number of analysts recently commented on SNDX shares. Citigroup decreased their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. Guggenheim reiterated a “buy” rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday. JPMorgan Chase & Co. increased their price target on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Finally, Scotiabank increased their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a “sector perform” rating in a research report on Tuesday.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, insider Neil Gallagher sold 4,618 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 $71,579.00. Following the completion of the sale, the insider now owns 85,095 shares of the company’s stock, valued at $1,318,972.50. The trade was a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Keith A. Goldan sold 3,777 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $58,543.50. Following the transaction, the chief financial officer now owns 90,746 shares in the company, valued at $1,406,563. This trade represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,683 shares of company stock valued at $336,087 over the last three months. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds have recently bought and sold shares of SNDX. R Squared Ltd purchased a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth approximately $26,000. Virtus ETF Advisers LLC boosted its stake in shares of Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock valued at $70,000 after purchasing an additional 827 shares in the last quarter. Cape Investment Advisory Inc. grew 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 purchasing an additional 3,927 shares during the last quarter. KBC Group NV raised its position in Syndax Pharmaceuticals by 104.8% in the 4th quarter. KBC Group NV now owns 6,954 shares of the company’s stock worth $92,000 after purchasing an additional 3,559 shares during the period. Finally, Optimize Financial Inc bought a new stake in Syndax Pharmaceuticals in the fourth quarter worth $152,000.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX opened at $11.01 on Friday. The company has a fifty day moving average price of $12.56 and a 200-day moving average price of $14.48. Syndax Pharmaceuticals has a 1 year low of $9.66 and a 1 year high of $25.07. The firm has a market cap of $947.34 million, a price-to-earnings ratio of -3.03 and a beta of 0.82.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Monday, May 5th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.04) by $0.06. The firm had revenue of $20.04 million during the quarter, compared to analysts’ expectations of $15.88 million. During the same quarter last year, the business posted ($0.85) EPS. The company’s quarterly revenue was up 1900.0% on a year-over-year basis. On average, research analysts anticipate that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

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).