Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Raised to $42.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective hoisted by research analysts at Stifel Nicolaus from $40.00 to $42.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ price target points to a potential upside of 106.69% from the company’s previous close.

Other analysts have also issued reports about the company. Scotiabank lowered Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. Citigroup dropped 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. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $34.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 21st. Finally, HC Wainwright reiterated a “buy” rating and set a $41.00 target price on shares of Syndax Pharmaceuticals in a research report on Monday, June 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $34.58.

Syndax Pharmaceuticals Price Performance

SNDX opened at $20.32 on Wednesday. The stock has a market capitalization of $1.73 billion, a P/E ratio of -6.31 and a beta of 1.01. The company’s 50 day simple moving average is $20.50 and its 200-day simple moving average is $21.46. Syndax Pharmaceuticals has a one year low of $11.22 and a one year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.85) EPS for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.11. During the same period in the prior year, the business earned ($0.59) earnings per share. As a group, analysts anticipate that Syndax Pharmaceuticals will post -3.56 EPS for the current year.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan acquired 1,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $20.03 per share, for a total transaction of $25,037.50. Following the acquisition, the chief financial officer now directly owns 52,623 shares of the company’s stock, valued at approximately $1,054,038.69. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in SNDX. Charles Schwab Investment Management Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 506,467 shares of the company’s stock valued at $7,354,000 after purchasing an additional 15,156 shares in the last quarter. Deutsche Bank AG boosted its position in Syndax Pharmaceuticals by 13.8% during the 3rd quarter. Deutsche Bank AG now owns 49,813 shares of the company’s stock worth $723,000 after acquiring an additional 6,037 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in Syndax Pharmaceuticals by 57.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 206,394 shares of the company’s stock worth $2,997,000 after acquiring an additional 75,636 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Syndax Pharmaceuticals by 8.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,000,000 shares of the company’s stock worth $14,520,000 after acquiring an additional 75,000 shares in the last quarter. Finally, Annandale Capital LLC acquired a new stake in shares of Syndax Pharmaceuticals in the third quarter valued at approximately $67,000.

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).