Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Raised to $22.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective upped by equities researchers at Barclays from $19.00 to $22.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective points to a potential upside of 59.88% from the stock’s current price.

Several other brokerages have also commented on SNDX. Guggenheim started coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, September 4th. They set a “buy” rating and a $34.00 price target on the stock. Stifel Nicolaus started coverage on shares of Syndax Pharmaceuticals in a research note on Wednesday, September 10th. They set a “buy” rating and a $44.00 price target on the stock. BTIG Research restated a “buy” rating and set a $56.00 price target on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, October 8th. Finally, HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $36.40.

Syndax Pharmaceuticals Stock Up 0.4%

SNDX stock opened at $13.76 on Tuesday. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $22.50. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -3.54 and a beta of 0.68. The company has a 50 day moving average of $15.34 and a two-hundred day moving average of $12.58.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The company had revenue of $45.87 million during the quarter, compared to the consensus estimate of $49.08 million. During the same quarter in the prior year, the firm earned ($0.98) EPS. The company’s revenue was up 266.4% compared to the same quarter last year. On average, equities analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael A. Metzger sold 157,307 shares of the firm’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the transaction, the chief executive officer directly owned 298,661 shares in the company, valued at approximately $4,901,027.01. This trade represents a 34.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Dennis Podlesak sold 19,200 shares of the firm’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.84, for a total transaction of $304,128.00. Following the completion of the transaction, the director owned 191,763 shares in the company, valued at $3,037,525.92. The trade was a 9.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 195,707 shares of company stock worth $3,183,904 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Keybank National Association OH acquired a new stake in Syndax Pharmaceuticals in the 3rd quarter worth $2,305,000. AlphaQuest LLC grew its position in Syndax Pharmaceuticals by 183.3% in the 3rd quarter. AlphaQuest LLC now owns 59,341 shares of the company’s stock worth $913,000 after purchasing an additional 38,394 shares during the last quarter. Sector Gamma AS acquired a new stake in Syndax Pharmaceuticals in the 3rd quarter worth $3,243,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Syndax Pharmaceuticals in the 3rd quarter worth $212,000. Finally, Tema Etfs LLC grew its position in Syndax Pharmaceuticals by 27.5% in the 3rd quarter. Tema Etfs LLC now owns 110,066 shares of the company’s stock worth $1,693,000 after purchasing an additional 23,765 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).