Brokerages Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) PT at $34.10

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the ten brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $34.10.

Several equities research analysts have weighed in on the company. Wall Street Zen raised Syndax Pharmaceuticals to a "sell" rating in a research report on Tuesday, May 6th. The Goldman Sachs Group assumed coverage on Syndax Pharmaceuticals in a research report on Thursday, July 10th. They issued a "buy" rating and a $18.00 target price on the stock. UBS Group dropped their target price on Syndax Pharmaceuticals from $37.00 to $35.00 and set a "buy" rating on the stock in a research report on Tuesday. Scotiabank raised their price target on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a report on Tuesday, May 6th. Finally, Guggenheim reissued a "buy" rating and set a $32.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th.

Insiders Place Their Bets

In related news, CEO Michael A. Metzger sold 7,534 shares of the firm's stock in a transaction dated Wednesday, July 16th. The stock was sold at an average price of $9.29, for a total transaction of $69,990.86. Following the completion of the transaction, the chief executive officer owned 298,661 shares of the company's stock, valued at $2,774,560.69. This trade represents a 2.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of SNDX. Bank of New York Mellon Corp boosted its position in shares of Syndax Pharmaceuticals by 1.2% in the 4th quarter. Bank of New York Mellon Corp now owns 224,261 shares of the company's stock valued at $2,965,000 after purchasing an additional 2,759 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Syndax Pharmaceuticals by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 704,823 shares of the company's stock valued at $9,318,000 after purchasing an additional 8,876 shares during the period. Teacher Retirement System of Texas boosted its position in Syndax Pharmaceuticals by 18.7% during the 4th quarter. Teacher Retirement System of Texas now owns 22,769 shares of the company's stock worth $301,000 after acquiring an additional 3,585 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in Syndax Pharmaceuticals during the 4th quarter worth about $219,000. Finally, Simplify Asset Management Inc. boosted its position in Syndax Pharmaceuticals by 20.8% during the 4th quarter. Simplify Asset Management Inc. now owns 147,641 shares of the company's stock worth $1,952,000 after acquiring an additional 25,456 shares during the period.

Syndax Pharmaceuticals Stock Down 2.2%

Shares of Syndax Pharmaceuticals stock traded down $0.21 on Wednesday, hitting $9.46. 1,900,856 shares of the company's stock traded hands, compared to its average volume of 1,868,549. The stock has a market cap of $814.03 million, a P/E ratio of -2.45 and a beta of 0.70. The company has a quick ratio of 5.75, a current ratio of 5.80 and a debt-to-equity ratio of 1.53. The firm's 50-day moving average is $9.88 and its 200 day moving average is $12.18. Syndax Pharmaceuticals has a 52-week low of $8.58 and a 52-week high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.06. Syndax Pharmaceuticals had a negative return on equity of 101.60% and a negative net margin of 757.53%. The firm had revenue of $20.04 million for the quarter, compared to analysts' expectations of $15.88 million. During the same period last year, the business posted ($0.85) earnings per share. The firm's revenue for the quarter was up 1900.0% on a year-over-year basis. Equities analysts anticipate that Syndax Pharmaceuticals 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).