Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded at StockNews.com

StockNews.com upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) to a sell rating in a research report report published on Thursday.

Several other brokerages also recently commented on SNDX. Scotiabank reduced their target price on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, January 8th. Citigroup reduced their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, March 4th. HC Wainwright restated a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. raised their price objective on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Stock Up 6.1 %

NASDAQ:SNDX opened at $11.16 on Thursday. The company’s 50-day moving average price is $13.66 and its two-hundred day moving average price is $15.33. Syndax Pharmaceuticals has a 12 month low of $9.66 and a 12 month high of $25.07. The firm has a market cap of $960.25 million, a PE ratio of -3.07 and a beta of 1.28.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share 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 analysts’ expectations of $86.32 million. On average, research analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 300,121 shares of the company’s stock, valued at approximately $4,651,875.50. This represents a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Keith A. Goldan sold 3,777 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 $58,543.50. Following the transaction, the chief financial officer now directly owns 90,746 shares of the company’s stock, valued at $1,406,563. The trade was a 4.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Syndax Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp boosted its position in Syndax Pharmaceuticals by 4.1% in the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after purchasing an additional 148,491 shares during the last quarter. Soleus Capital Management L.P. raised its position in shares of Syndax Pharmaceuticals by 128.4% during the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock valued at $32,944,000 after purchasing an additional 1,401,016 shares during the period. Assenagon Asset Management S.A. raised its holdings in Syndax Pharmaceuticals by 343.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock valued at $27,292,000 after acquiring an additional 1,598,428 shares during the period. Geode Capital Management LLC lifted its holdings in Syndax Pharmaceuticals by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after purchasing an additional 66,459 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 13.4% in 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.

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).