Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Up 5.5% After Analyst Upgrade

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price rose 5.5% during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $39.00 to $41.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Syndax Pharmaceuticals traded as high as $13.51 and last traded at $13.84. Approximately 164,424 shares were traded during trading, a decline of 89% from the average daily volume of 1,439,839 shares. The stock had previously closed at $13.12.

SNDX has been the topic of several other research reports. StockNews.com downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. HC Wainwright reaffirmed a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Scotiabank cut their target price on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research note on Wednesday, January 8th. Finally, Citigroup cut their target price on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Insider Transactions at Syndax Pharmaceuticals

In related news, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $71,579.00. Following the transaction, the insider now directly owns 85,095 shares in the company, valued at $1,318,972.50. The trade was a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael A. Metzger sold 13,288 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 10th. The stock was 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 owns 300,121 shares in the company, valued at $4,651,875.50. The trade was a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,683 shares of company stock valued at $336,087. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds have recently modified their holdings of SNDX. R Squared Ltd acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth $26,000. Quantbot Technologies LP acquired a new position in shares of Syndax Pharmaceuticals in the 3rd quarter worth $49,000. Virtus ETF Advisers LLC grew its holdings in shares of Syndax Pharmaceuticals by 18.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock valued at $70,000 after buying an additional 827 shares in the last quarter. Cape Investment Advisory Inc. grew its holdings in shares of Syndax Pharmaceuticals by 157.1% during the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company’s stock valued at $85,000 after buying an additional 3,927 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Syndax Pharmaceuticals by 104.8% during the fourth quarter. KBC Group NV now owns 6,954 shares of the company’s stock valued at $92,000 after buying an additional 3,559 shares in the last quarter.

Syndax Pharmaceuticals Price Performance

The firm has a market cap of $1.18 billion, a PE ratio of -3.78 and a beta of 0.92. The business has a fifty day moving average price of $14.24 and a two-hundred day moving average price of $16.11.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The firm had revenue of $7.68 million during the quarter, compared to analyst estimates of $86.32 million. As a group, sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal 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).