Syndax Pharmaceuticals (NASDAQ:SNDX) Raised to Sell at StockNews.com

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

SNDX has been the subject of a number of other reports. HC Wainwright reiterated a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. Scotiabank cut their price objective on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th. Finally, Citigroup lowered their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.20.

Syndax Pharmaceuticals Trading Down 9.7 %

Shares of SNDX stock opened at $11.25 on Wednesday. Syndax Pharmaceuticals has a 1 year low of $11.09 and a 1 year high of $25.07. The firm’s 50 day moving average is $14.13 and its 200-day moving average is $15.68. The firm has a market capitalization of $967.77 million, a price-to-earnings ratio of -3.10 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) 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, equities research analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In related news, insider Neil Gallagher sold 4,618 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 $71,579.00. Following the completion of the sale, the insider now directly owns 85,095 shares of the company’s stock, valued at approximately $1,318,972.50. This represents a 5.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael A. Metzger sold 13,288 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, February 10th. The shares were 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 directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,683 shares of company stock valued at $336,087 over the last three months. 4.10% of the stock is currently 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 SNDX. Franklin Resources Inc. increased its holdings in Syndax Pharmaceuticals by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after purchasing an additional 208,043 shares in the last quarter. State Street Corp boosted its position in shares of Syndax Pharmaceuticals by 4.1% during the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after buying an additional 148,491 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Syndax Pharmaceuticals by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company’s stock worth $13,397,000 after buying an additional 41,458 shares in the last quarter. Barclays PLC raised its position in Syndax Pharmaceuticals by 143.4% in the 3rd quarter. Barclays PLC now owns 187,629 shares of the company’s stock valued at $3,612,000 after buying an additional 110,535 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its stake in Syndax Pharmaceuticals by 319.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 81,302 shares of the company’s stock valued at $1,565,000 after acquiring an additional 61,916 shares in 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).