Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective upped by analysts at JPMorgan Chase & Co. from $33.00 to $38.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 136.17% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. Stifel Nicolaus upped their target price on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. UBS Group began coverage on shares of Syndax Pharmaceuticals in a report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price objective for the company. Barclays boosted their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. HC Wainwright raised their price target on shares of Syndax Pharmaceuticals from $49.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, November 18th. Finally, Bank of America lifted their price target on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $37.64.

Syndax Pharmaceuticals Trading Up 3.1 %

SNDX stock opened at $16.09 on Thursday. The stock has a market capitalization of $1.37 billion, a P/E ratio of -4.43 and a beta of 0.92. The firm has a 50-day moving average price of $18.66 and a 200-day moving average price of $20.05. Syndax Pharmaceuticals has a 12 month low of $15.00 and a 12 month high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The company had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the prior year, the business earned ($0.73) EPS. As a group, equities analysts predict that Syndax Pharmaceuticals will post -3.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of SNDX. Simplify Asset Management Inc. boosted its stake in Syndax Pharmaceuticals by 62.5% during the third quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock worth $2,352,000 after acquiring an additional 46,992 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Syndax Pharmaceuticals by 54.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock worth $8,806,000 after purchasing an additional 151,021 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Syndax Pharmaceuticals by 18.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company’s stock valued at $5,991,000 after buying an additional 46,463 shares during the period. Renaissance Technologies LLC increased its position in Syndax Pharmaceuticals by 170.9% in the 2nd quarter. Renaissance Technologies LLC now owns 214,300 shares of the company’s stock valued at $4,400,000 after buying an additional 135,200 shares in the last quarter. Finally, First Turn Management LLC raised its stake in Syndax Pharmaceuticals by 85.4% during the 3rd quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock worth $22,853,000 after buying an additional 546,776 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).