Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Consensus Rating of “Moderate Buy” from Analysts

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $36.00.

Several analysts have commented on SNDX shares. StockNews.com downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. JPMorgan Chase & Co. upped their price objective on Syndax Pharmaceuticals from $35.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Scotiabank reduced their price objective on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 8th. Finally, Citigroup reduced their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $13.04 on Thursday. The stock has a 50-day simple moving average of $14.26 and a 200-day simple moving average of $16.25. The stock has a market cap of $1.12 billion, a P/E ratio of -3.59 and a beta of 0.92. Syndax Pharmaceuticals has a 1 year low of $12.06 and a 1 year high of $25.07.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The company had revenue of $7.68 million during the quarter, compared to analysts’ expectations of $86.32 million. On average, equities research analysts predict that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, insider Neil Gallagher sold 4,618 shares of the firm’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 sale, the insider now owns 85,095 shares in the company, valued at $1,318,972.50. This trade represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith A. Goldan sold 3,777 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $58,543.50. Following the sale, the chief financial officer now owns 90,746 shares in the company, valued at $1,406,563. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,683 shares of company stock worth $336,087. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Virtus ETF Advisers LLC grew its stake in Syndax Pharmaceuticals by 18.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock worth $70,000 after purchasing an additional 827 shares in the last quarter. E Fund Management Co. Ltd. grew its stake in Syndax Pharmaceuticals by 14.4% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company’s stock worth $167,000 after purchasing an additional 1,583 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in Syndax Pharmaceuticals by 10.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company’s stock worth $239,000 after purchasing an additional 1,732 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Syndax Pharmaceuticals by 3.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,748 shares of the company’s stock worth $706,000 after purchasing an additional 1,811 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Syndax Pharmaceuticals in the fourth quarter worth about $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).