Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Expected to Rise, Scotiabank Analyst Says

Syndax Pharmaceuticals (NASDAQ:SNDX - Free Report) had its price objective upped by Scotiabank from $16.00 to $17.00 in a research report sent to investors on Tuesday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other research firms have also commented on SNDX. StockNews.com raised Syndax Pharmaceuticals to a "sell" rating in a research report on Thursday, April 10th. Guggenheim reaffirmed a "buy" rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday. HC Wainwright reiterated a "buy" rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lifted 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. Finally, Citigroup lowered their price objective 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $35.91.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock traded up $0.03 on Tuesday, hitting $11.04. 301,573 shares of the company's stock traded hands, compared to its average volume of 1,673,538. The stock has a market capitalization of $949.93 million, a price-to-earnings ratio of -3.04 and a beta of 0.82. The company's fifty day simple moving average is $12.56 and its 200 day simple moving average is $14.48. Syndax Pharmaceuticals has a one year low of $9.66 and a one year 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 for the quarter, beating the consensus estimate of ($1.04) by $0.06. The company had revenue of $20.04 million during the quarter, compared to the consensus estimate of $15.88 million. During the same quarter in the previous year, the firm posted ($0.85) EPS. The business's revenue for the quarter was up 1900.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Keith A. Goldan sold 3,777 shares of the firm'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 $58,543.50. Following the completion of the transaction, the chief financial officer now directly owns 90,746 shares of the company's stock, valued at approximately $1,406,563. This trade represents a 4.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Neil Gallagher sold 4,618 shares of the business'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 $71,579.00. Following the completion of the sale, the insider now owns 85,095 shares in the company, 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. In the last quarter, insiders sold 21,683 shares of company stock worth $336,087. Corporate insiders own 4.10% of the company's stock.

Institutional Trading of Syndax Pharmaceuticals

A number of large investors have recently made changes to their positions in SNDX. Soleus Capital Management L.P. increased its position in shares of 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 valued at $32,944,000 after purchasing an additional 1,401,016 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Syndax Pharmaceuticals by 343.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company's stock worth $27,292,000 after purchasing an additional 1,598,428 shares during the period. Franklin Resources Inc. raised 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 valued at $34,948,000 after acquiring an additional 208,043 shares in the last quarter. Sphera Funds Management LTD. lifted its position in shares of Syndax Pharmaceuticals by 33.5% in 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 during the period. Finally, Granahan Investment Management LLC boosted its stake in shares of Syndax Pharmaceuticals by 36.2% during the fourth quarter. Granahan Investment Management LLC now owns 905,322 shares of the company's stock valued at $11,968,000 after purchasing an additional 240,557 shares in the last quarter.

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).