PFM Health Sciences LP purchased a new stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,484,227 shares of the company’s stock, valued at approximately $33,187,000. PFM Health Sciences LP owned 3.08% of Syndax Pharmaceuticals as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in SNDX. Ghost Tree Capital LLC grew its holdings in shares of Syndax Pharmaceuticals by 217.6% in the 4th quarter. Ghost Tree Capital LLC now owns 1,350,000 shares of the company’s stock valued at $30,024,000 after buying an additional 925,000 shares during the period. BlackRock Inc. boosted its stake in Syndax Pharmaceuticals by 15.4% in the 1st quarter. BlackRock Inc. now owns 2,677,505 shares of the company’s stock worth $59,869,000 after purchasing an additional 357,099 shares during the period. Vivo Capital LLC acquired a new position in Syndax Pharmaceuticals in the 1st quarter worth $7,155,000. Price T Rowe Associates Inc. MD boosted its stake in Syndax Pharmaceuticals by 156.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 439,017 shares of the company’s stock worth $9,816,000 after purchasing an additional 267,578 shares during the period. Finally, Putnam Investments LLC acquired a new position in Syndax Pharmaceuticals in the 1st quarter worth $4,585,000.
A number of equities analysts recently weighed in on SNDX shares. Morgan Stanley reduced their target price on shares of Syndax Pharmaceuticals from $25.00 to $20.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 12th. Zacks Investment Research raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, May 11th. B. Riley reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, April 21st. initiated coverage on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 25th. They set a “buy” rating and a $24.00 price target on the stock. Finally, Robert W. Baird reissued a “buy” rating and set a $30.00 price target on shares of Syndax Pharmaceuticals in a research report on Thursday, May 13th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Syndax Pharmaceuticals presently has a consensus rating of “Buy” and an average target price of $27.78.
Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Tuesday, May 11th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.09. Syndax Pharmaceuticals had a negative net margin of 5,645.68% and a negative return on equity of 45.08%. The firm had revenue of $0.38 million for the quarter, compared to analyst estimates of $0.50 million. On average, research analysts expect that Syndax Pharmaceuticals, Inc. will post -2.34 EPS for the current year.
Syndax Pharmaceuticals Profile
Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are SNDX-5613, which is in phase 1/2 clinical trial targeting the binding interaction of Menin with the mixed lineage leukemia 1 protein for the treatment of MLL-rearranged (MLLr) and nucleophosmin 1 mutant acute myeloid leukemia (NPM1c AML); 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).
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