JPMorgan Chase & Co. Issues Positive Forecast for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective raised by JPMorgan Chase & Co. from $39.00 to $41.00 in a research note released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on SNDX. Scotiabank cut their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a 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. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Finally, HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Stock Down 2.8 %

Shares of Syndax Pharmaceuticals stock opened at $13.71 on Thursday. The firm has a market cap of $1.18 billion, a PE ratio of -3.78 and a beta of 0.92. Syndax Pharmaceuticals has a 12-month low of $12.06 and a 12-month high of $25.07. The company’s fifty day simple moving average is $14.24 and its two-hundred day simple moving average is $16.08.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced 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 for the quarter, compared to analyst estimates of $86.32 million. As a group, sell-side analysts expect that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,777 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $58,543.50. Following the sale, the chief financial officer now owns 90,746 shares in the company, valued at approximately $1,406,563. This represents a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Neil Gallagher sold 4,618 shares of the company’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 transaction of $71,579.00. Following the completion of the transaction, the insider now owns 85,095 shares in the company, valued at approximately $1,318,972.50. This represents a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,683 shares of company stock worth $336,087. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Syndax Pharmaceuticals by 4.1% in the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after buying an additional 148,491 shares in the last quarter. Soleus Capital Management L.P. lifted its stake in shares of Syndax Pharmaceuticals by 128.4% in the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after buying an additional 1,401,016 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of Syndax Pharmaceuticals by 343.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock worth $27,292,000 after buying an additional 1,598,428 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Syndax Pharmaceuticals by 3.5% in the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after buying an additional 66,459 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in Syndax Pharmaceuticals by 13.4% during the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock valued at $34,948,000 after purchasing an additional 208,043 shares during the period.

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).