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

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

Several other equities analysts have also commented on SNDX. Scotiabank decreased their price target on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note 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. Citigroup dropped 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. Finally, JPMorgan Chase & Co. lifted 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 analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $36.20.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock opened at $11.16 on Thursday. The stock’s fifty day moving average is $13.66 and its two-hundred day moving average is $15.33. The firm has a market capitalization of $960.25 million, a P/E ratio of -3.07 and a beta of 1.28. Syndax Pharmaceuticals has a fifty-two week low of $9.66 and a fifty-two week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The company had revenue of $7.68 million for the quarter, compared to analysts’ expectations of $86.32 million. On average, equities analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, insider Neil Gallagher sold 4,618 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the transaction, the insider now directly owns 85,095 shares in the company, valued at $1,318,972.50. This represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the chief executive officer now directly owns 300,121 shares of the company’s stock, valued at approximately $4,651,875.50. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

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

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).