Syndax Pharmaceuticals (NASDAQ:SNDX) Earns Buy Rating from Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a report released on Friday, Marketbeat Ratings reports. The firm set a “buy” rating and a $37.00 price target on the stock. Jefferies Financial Group’s target price suggests a potential upside of 80.22% from the company’s current price.

A number of other equities research analysts also recently issued reports on SNDX. HC Wainwright reissued a “buy” rating and set a $41.00 price target on shares of Syndax Pharmaceuticals in a research report on Monday, June 17th. Stifel Nicolaus raised their target price on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday. Citigroup reduced their target price on Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Scotiabank downgraded Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $34.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 21st. 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. Based on data from MarketBeat.com, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $34.77.

Syndax Pharmaceuticals Trading Up 1.0 %

Syndax Pharmaceuticals stock opened at $20.53 on Friday. Syndax Pharmaceuticals has a 12 month low of $11.22 and a 12 month high of $25.34. The stock’s 50 day moving average is $20.49 and its 200-day moving average is $21.51. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -6.38 and a beta of 1.01.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.11. During the same period last year, the company posted ($0.59) EPS. As a group, equities research analysts predict that Syndax Pharmaceuticals will post -3.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan acquired 1,250 shares of the stock in a transaction dated Friday, June 14th. The stock was purchased at an average cost of $20.03 per share, with a total value of $25,037.50. Following the transaction, the chief financial officer now owns 52,623 shares in the company, valued at approximately $1,054,038.69. The acquisition was disclosed in a filing with the SEC, which is available at this link. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Syndax Pharmaceuticals

Several large investors have recently made changes to their positions in SNDX. Wellington Management Group LLP boosted its stake in 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 during the last quarter. Kynam Capital Management LP lifted its position 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 buying an additional 1,660,000 shares in the last quarter. Vanguard Group Inc. lifted its position 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 buying an additional 591,631 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in Syndax Pharmaceuticals by 65.2% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock valued at $91,242,000 after purchasing an additional 1,666,667 shares during the last quarter. Finally, Avidity Partners Management LP lifted its stake in Syndax Pharmaceuticals by 40.0% in the fourth quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock valued at $85,360,000 after purchasing 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).