Syndax Pharmaceuticals (NASDAQ:SNDX) Now Covered by Analysts at Jefferies Financial Group

Jefferies Financial Group initiated coverage on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a report published on Friday, Marketbeat.com reports. The brokerage issued a buy rating and a $37.00 price objective on the stock.

Several other equities analysts have also recently commented on the stock. Scotiabank cut shares of Syndax Pharmaceuticals from a strong-buy rating to a hold rating in a research report on Friday, June 14th. JPMorgan Chase & Co. restated an overweight rating and set a $34.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 21st. Stifel Nicolaus raised their price target on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a buy rating in a research note on Wednesday. Citigroup decreased their price target on shares of Syndax Pharmaceuticals from $32.00 to $30.00 and set a buy rating for the company in a research note on Thursday, May 9th. Finally, HC Wainwright restated a buy rating and set a $41.00 price target on shares of Syndax Pharmaceuticals in a research note on Monday, June 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $34.77.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $20.53 on Friday. Syndax Pharmaceuticals has a 52 week low of $11.22 and a 52 week high of $25.34. The company’s 50 day moving average price is $20.49 and its two-hundred day moving average price is $21.48.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Wednesday, May 8th. The company reported ($0.85) EPS for the quarter, topping the consensus estimate of ($0.96) by $0.11. During the same quarter in the prior year, the firm posted ($0.59) EPS. On average, analysts forecast that Syndax Pharmaceuticals will post -3.53 EPS for the current fiscal year.

Insider Activity at Syndax Pharmaceuticals

In other news, CFO Keith A. Goldan purchased 1,250 shares of Syndax Pharmaceuticals stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $20.03 per share, for a total transaction of $25,037.50. Following the transaction, the chief financial officer now directly owns 52,623 shares of the company’s stock, valued at $1,054,038.69. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Syndax Pharmaceuticals by 2.7% during the 3rd quarter. Wellington Management Group LLP now owns 7,642,446 shares of the company’s stock valued at $110,968,000 after purchasing an additional 198,262 shares in the last quarter. Kynam Capital Management LP lifted its holdings in shares of Syndax Pharmaceuticals by 41.5% during the 4th quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company’s stock worth $122,313,000 after acquiring an additional 1,660,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock worth $117,262,000 after acquiring an additional 591,631 shares during the last quarter. Avoro Capital Advisors LLC lifted its holdings in shares of Syndax Pharmaceuticals by 65.2% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock worth $91,242,000 after acquiring an additional 1,666,667 shares during the last quarter. Finally, Avidity Partners Management LP lifted its holdings in shares of Syndax Pharmaceuticals by 40.0% during the 4th quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock worth $85,360,000 after acquiring an additional 1,129,000 shares during the last quarter.

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).