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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price traded up 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. 164,424 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 1,439,839 shares. The stock had previously closed at $13.12.

SNDX has been the topic of several other reports. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Scotiabank dropped their target price on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 8th. Citigroup reduced their price target 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. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

Insider Activity

In related news, CFO Keith A. Goldan sold 3,777 shares of the firm’s stock in a transaction that occurred 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 directly owns 90,746 shares in the company, valued at $1,406,563. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael A. Metzger sold 13,288 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the sale, the chief executive officer now directly owns 300,121 shares in the company, valued at $4,651,875.50. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

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

Syndax Pharmaceuticals Price Performance

The firm has a market capitalization of $1.19 billion, a PE ratio of -3.82 and a beta of 0.92. The firm has a fifty day moving average price of $14.22 and a 200 day moving average price of $16.18.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The business had revenue of $7.68 million for the quarter, compared to the consensus estimate of $86.32 million. On average, sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current 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).