Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $34.64.

A number of research firms have commented on SNDX. Scotiabank cut Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Citigroup decreased their price objective on shares of Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Stifel Nicolaus boosted their target price on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. HC Wainwright reaffirmed a “buy” rating and issued a $41.00 price target on shares of Syndax Pharmaceuticals in a report on Monday, July 29th. Finally, Jefferies Financial Group assumed coverage on shares of Syndax Pharmaceuticals in a report on Friday, June 28th. They set a “buy” rating and a $37.00 price objective on the stock.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CFO Keith A. Goldan acquired 1,250 shares of Syndax Pharmaceuticals stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $20.03 per share, for a total transaction of $25,037.50. Following the purchase, the chief financial officer now owns 52,623 shares of the company’s stock, valued at approximately $1,054,038.69. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Syndax Pharmaceuticals during the second quarter worth $33,000. CWM LLC increased its holdings in Syndax Pharmaceuticals by 415.3% in the fourth quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after buying an additional 1,358 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth about $37,000. Quadrant Capital Group LLC boosted its stake in shares of Syndax Pharmaceuticals by 158.3% during the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $53,000 after acquiring an additional 1,496 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of Syndax Pharmaceuticals by 2,874.6% during the 4th quarter. Signaturefd LLC now owns 3,748 shares of the company’s stock valued at $81,000 after acquiring an additional 3,622 shares during the period.

Syndax Pharmaceuticals Stock Up 1.2 %

Shares of Syndax Pharmaceuticals stock opened at $19.90 on Wednesday. The company has a market cap of $1.69 billion, a P/E ratio of -6.18 and a beta of 0.94. The firm’s 50 day moving average price is $21.14 and its 200-day moving average price is $21.73. Syndax Pharmaceuticals has a 52-week low of $11.22 and a 52-week high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.91) by $0.11. The firm had revenue of $3.50 million during the quarter. During the same quarter in the prior year, the company earned ($0.64) earnings per share. The company’s revenue was up 3499999990.0% on a year-over-year basis. As a group, equities research analysts forecast that Syndax Pharmaceuticals will post -3.55 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).