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

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

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

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $10.52 on Thursday. The business has a 50 day moving average price of $13.73 and a 200 day moving average price of $15.38. The company has a market capitalization of $905.18 million, a P/E ratio of -2.90 and a beta of 1.28. Syndax Pharmaceuticals has a 1 year low of $9.66 and a 1 year high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The company had revenue of $7.68 million during the quarter, compared to analyst estimates of $86.32 million. As a group, research analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael A. Metzger sold 13,288 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 300,121 shares in the company, valued at $4,651,875.50. This trade represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the sale, the insider now owns 85,095 shares of the company’s stock, valued at approximately $1,318,972.50. The trade was a 5.15 % 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 in the last quarter. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virtus ETF Advisers LLC lifted 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 worth $70,000 after acquiring an additional 827 shares during the period. E Fund Management Co. Ltd. boosted its stake in Syndax Pharmaceuticals by 14.4% during the 4th quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company’s stock valued at $167,000 after purchasing an additional 1,583 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its position in shares of Syndax Pharmaceuticals by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company’s stock valued at $239,000 after purchasing an additional 1,732 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Syndax Pharmaceuticals by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company’s stock valued at $706,000 after buying an additional 1,811 shares during the period. Finally, R Squared Ltd acquired a new position in Syndax Pharmaceuticals during the fourth quarter worth about $26,000.

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).