Soleus Capital Management L.P. Purchases 1,401,016 Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)

Soleus Capital Management L.P. raised its position in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 128.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,492,000 shares of the company's stock after acquiring an additional 1,401,016 shares during the period. Syndax Pharmaceuticals comprises approximately 2.1% of Soleus Capital Management L.P.'s holdings, making the stock its 15th largest holding. Soleus Capital Management L.P. owned 2.92% of Syndax Pharmaceuticals worth $32,944,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SNDX. Octagon Capital Advisors LP acquired a new position in Syndax Pharmaceuticals in the 4th quarter valued at approximately $11,951,000. Renaissance Technologies LLC acquired a new position in Syndax Pharmaceuticals in the 4th quarter valued at approximately $9,002,000. Trexquant Investment LP raised its holdings in Syndax Pharmaceuticals by 1,309.7% in the 4th quarter. Trexquant Investment LP now owns 471,292 shares of the company's stock valued at $6,230,000 after acquiring an additional 437,859 shares in the last quarter. Altium Capital Management LLC acquired a new position in Syndax Pharmaceuticals in the 4th quarter valued at approximately $4,891,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Syndax Pharmaceuticals in the 4th quarter valued at approximately $4,734,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SNDX shares. Scotiabank increased their target price on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 6th. Guggenheim reissued a "buy" rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. HC Wainwright reissued a "buy" rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. Citigroup dropped their target price on 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. increased their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.91.

Syndax Pharmaceuticals Stock Up 0.8%

SNDX stock traded up $0.08 during midday trading on Wednesday, reaching $10.65. 3,546,422 shares of the company's stock traded hands, compared to its average volume of 1,749,997. The company has a 50-day simple moving average of $11.93 and a two-hundred day simple moving average of $13.92. Syndax Pharmaceuticals, Inc. has a 1-year low of $8.58 and a 1-year high of $25.07. The company has a market cap of $916.40 million, a price-to-earnings ratio of -2.93 and a beta of 0.82.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, beating analysts' consensus estimates of ($1.04) by $0.06. The business had revenue of $20.04 million for the quarter, compared to analyst estimates of $15.88 million. During the same period in the prior year, the business earned ($0.85) earnings per share. The company's revenue for the quarter was up 1900.0% on a year-over-year basis. Equities research analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Syndax Pharmaceuticals 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).