Syndax Pharmaceuticals (NASDAQ:SNDX) Given "Buy" Rating at Guggenheim

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report)'s stock had its "buy" rating reaffirmed by equities researchers at Guggenheim in a report released on Tuesday,Benzinga reports. They presently have a $32.00 price objective on the stock. Guggenheim's target price indicates a potential upside of 189.86% from the stock's previous close.

Several other analysts have also commented on the stock. Scotiabank lowered their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 8th. HC Wainwright reissued a "buy" rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. StockNews.com upgraded Syndax Pharmaceuticals to a "sell" rating in a research report on Thursday, April 10th. Citigroup reduced their target price on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $35.91.

Syndax Pharmaceuticals Trading Up 0.3 %

Shares of NASDAQ:SNDX traded up $0.03 on Tuesday, reaching $11.04. 301,573 shares of the company were exchanged, compared to its average volume of 2,188,761. The company has a 50-day moving average of $12.56 and a 200-day moving average of $14.48. The firm has a market cap of $949.93 million, a price-to-earnings ratio of -3.04 and a beta of 0.82. Syndax Pharmaceuticals has a 1-year low of $9.66 and a 1-year high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its earnings results 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 firm had revenue of $20.04 million during the quarter, compared to analyst estimates of $15.88 million. The firm's revenue for the quarter was up 1900.0% on a year-over-year basis. During the same period last year, the company posted ($0.85) EPS. As a group, analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Keith A. Goldan sold 3,777 shares of the company'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 sale, the chief financial officer now directly owns 90,746 shares of the company's stock, valued at approximately $1,406,563. This represents a 4.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael A. Metzger sold 13,288 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the completion of the transaction, the chief executive officer now directly owns 300,121 shares in the company, valued at $4,651,875.50. This trade represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Virtus ETF Advisers LLC boosted its holdings in Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after acquiring an additional 827 shares during the period. E Fund Management Co. Ltd. boosted its stake in shares of Syndax Pharmaceuticals by 14.4% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company's stock valued at $167,000 after purchasing an additional 1,583 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Syndax Pharmaceuticals by 10.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company's stock valued at $239,000 after purchasing an additional 1,732 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Syndax Pharmaceuticals by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company's stock worth $706,000 after buying an additional 1,811 shares during the period. Finally, R Squared Ltd acquired a new position in Syndax Pharmaceuticals in the 4th quarter worth $26,000.

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).