Syndax Pharmaceuticals (NASDAQ:SNDX) Receives “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a research note released on Tuesday,Benzinga reports. HC Wainwright currently has a $51.00 price target on the stock.

SNDX has been the subject of several other research reports. The Goldman Sachs Group upped their price target on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. StockNews.com downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Citigroup upped their price target on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Scotiabank reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $36.00.

Syndax Pharmaceuticals Stock Down 7.1 %

Shares of NASDAQ:SNDX opened at $14.38 on Tuesday. The company has a market capitalization of $1.23 billion, a P/E ratio of -3.96 and a beta of 0.90. Syndax Pharmaceuticals has a 52-week low of $12.06 and a 52-week high of $25.16. The stock’s fifty day simple moving average is $14.26 and its 200-day simple moving average is $16.71.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly 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 business had revenue of $7.68 million during the quarter, compared to analysts’ expectations of $86.32 million. On average, sell-side analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

Insider Activity at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 13,288 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $205,964.00. Following the completion of the sale, the chief executive officer now directly owns 300,121 shares of the company’s stock, valued at approximately $4,651,875.50. This trade represents a 4.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Keith A. Goldan sold 3,777 shares of the business’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 $58,543.50. Following the completion of the transaction, the chief financial officer now owns 90,746 shares in the company, valued at $1,406,563. This represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,683 shares of company stock worth $336,087. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. R Squared Ltd purchased a new position in Syndax Pharmaceuticals in the fourth quarter valued at about $26,000. Quantbot Technologies LP acquired a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at approximately $49,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Syndax Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after buying an additional 541 shares during the last quarter. Virtus ETF Advisers LLC grew its position 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 worth $70,000 after buying an additional 827 shares in the last quarter. Finally, Cape Investment Advisory Inc. increased its stake in shares of Syndax Pharmaceuticals by 157.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company’s stock worth $85,000 after buying an additional 3,927 shares during the last quarter.

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).