Parkman Healthcare Partners LLC Has $7.31 Million Stock Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Key Points

• Parkman Healthcare Partners LLC increased their stake in Syndax Pharmaceuticals by 12.9%, owning approximately 0.69% of the company, valued at about $7.31 million.
• Syndax Pharmaceuticals reported earnings of ($0.83) per share, exceeding analysts' expectations, with a revenue of $37.96 million for the quarter, reflecting a year-over-year growth of 984.5%.
• Several analysts have upgraded their price targets for SNDX, with Citigroup raising it to $51.00 and BTIG Research to $56.00, indicating strong expectations for future performance.

Parkman Healthcare Partners LLC grew its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) by 12.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 594,987 shares of the company's stock after acquiring an additional 68,014 shares during the quarter. Parkman Healthcare Partners LLC owned 0.69% of Syndax Pharmaceuticals worth $7,309,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of SNDX. Soleus Capital Management L.P. increased its stake in Syndax Pharmaceuticals by 128.4% during the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company's stock worth $32,944,000 after purchasing an additional 1,401,016 shares in the last quarter. Octagon Capital Advisors LP bought a new stake in Syndax Pharmaceuticals during the 4th quarter worth approximately $11,951,000. Cubist Systematic Strategies LLC bought a new stake in Syndax Pharmaceuticals during the 4th quarter worth approximately $4,734,000. Sphera Funds Management LTD. increased its stake in Syndax Pharmaceuticals by 33.5% during the 4th quarter. Sphera Funds Management LTD. now owns 1,381,241 shares of the company's stock worth $18,260,000 after purchasing an additional 346,395 shares in the last quarter. Finally, AQR Capital Management LLC increased its stake in Syndax Pharmaceuticals by 478.8% during the 1st quarter. AQR Capital Management LLC now owns 377,444 shares of the company's stock worth $4,637,000 after purchasing an additional 312,231 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on SNDX shares. Citigroup increased their target price on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Tuesday, August 5th. B. Riley raised Syndax Pharmaceuticals to a "strong-buy" rating in a research report on Wednesday, August 6th. Guggenheim initiated coverage on Syndax Pharmaceuticals in a research report on Thursday, September 4th. They set a "buy" rating and a $34.00 price target for the company. UBS Group reduced their price target on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating for the company in a research report on Tuesday, July 15th. Finally, The Goldman Sachs Group upped their price target on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the stock a "buy" rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $38.89.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 157,307 shares of the business's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $16.41, for a total value of $2,581,407.87. Following the completion of the sale, the chief executive officer directly owned 298,661 shares in the company, valued at $4,901,027.01. The trade was a 34.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dennis Podlesak sold 19,200 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.84, for a total value of $304,128.00. Following the completion of the sale, the director owned 191,763 shares of the company's stock, valued at $3,037,525.92. This trade represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,537 shares of company stock valued at $3,265,935 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Syndax Pharmaceuticals Stock Down 2.4%

Shares of Syndax Pharmaceuticals stock traded down $0.40 on Tuesday, reaching $15.93. 1,171,502 shares of the company were exchanged, compared to its average volume of 2,193,435. The company has a current ratio of 4.71, a quick ratio of 4.55 and a debt-to-equity ratio of 2.06. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -4.10 and a beta of 0.72. Syndax Pharmaceuticals, Inc. has a one year low of $8.58 and a one year high of $22.50. The company has a 50-day moving average of $12.50 and a 200 day moving average of $12.01.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported ($0.83) earnings per share for the quarter, topping analysts' consensus estimates of ($1.01) by $0.18. The business had revenue of $37.96 million for the quarter, compared to analyst estimates of $26.64 million. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The firm's revenue was up 984.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.80) EPS. On average, equities research analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

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).