Syndax Pharmaceuticals (NASDAQ:SNDX) Given Buy Rating at HC Wainwright

Syndax Pharmaceuticals (NASDAQ:SNDX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report released on Monday, Benzinga reports. They currently have a $41.00 price objective on the stock. HC Wainwright’s price target indicates a potential upside of 94.77% from the company’s current price.

A number of other brokerages have also recently commented on SNDX. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $34.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 21st. Citigroup decreased their target price on shares of Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Jefferies Financial Group began coverage on Syndax Pharmaceuticals in a research note on Friday, June 28th. They set a “buy” rating and a $37.00 price objective on the stock. Scotiabank cut Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. Finally, Stifel Nicolaus raised their price target on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $34.73.

Syndax Pharmaceuticals Stock Down 14.0 %

NASDAQ:SNDX traded down $3.44 during trading hours on Monday, hitting $21.05. 1,969,485 shares of the company’s stock traded hands, compared to its average volume of 1,102,994. The business’s fifty day simple moving average is $20.99 and its two-hundred day simple moving average is $21.75. Syndax Pharmaceuticals has a 52 week low of $11.22 and a 52 week high of $25.34. The firm has a market cap of $1.79 billion, a P/E ratio of -6.51 and a beta of 0.94.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.96) by $0.11. During the same quarter in the prior year, the business earned ($0.59) EPS. On average, analysts expect that Syndax Pharmaceuticals will post -3.49 EPS for the current year.

Insider Activity

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan bought 1,250 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were purchased 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 owns 52,623 shares in the company, valued at approximately $1,054,038.69. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.10% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the business. Arizona State Retirement System grew its position in Syndax Pharmaceuticals by 5.3% in the 4th quarter. Arizona State Retirement System now owns 16,511 shares of the company’s stock worth $357,000 after purchasing an additional 835 shares during the period. Sei Investments Co. increased its position in Syndax Pharmaceuticals by 2.5% during the first quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock valued at $963,000 after acquiring an additional 991 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Syndax Pharmaceuticals by 1.5% during the 1st quarter. California State Teachers Retirement System now owns 76,557 shares of the company’s stock worth $1,822,000 after acquiring an additional 1,150 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Syndax Pharmaceuticals by 9.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,126 shares of the company’s stock valued at $305,000 after acquiring an additional 1,162 shares during the period. Finally, Ameritas Investment Partners Inc. raised its holdings in Syndax Pharmaceuticals by 20.0% in the 1st quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock worth $187,000 after purchasing an additional 1,312 shares during the period.

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).