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

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

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

Syndax Pharmaceuticals Stock Performance

Syndax Pharmaceuticals stock traded down $3.44 during trading on Monday, reaching $21.05. The company had a trading volume of 1,969,485 shares, compared to its average volume of 1,102,994. The firm’s 50-day simple moving average is $20.99 and its 200 day simple moving average is $21.75. Syndax Pharmaceuticals has a 1-year low of $11.22 and a 1-year high of $25.34. The firm has a market capitalization of $1.79 billion, a PE 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, topping the consensus estimate of ($0.96) by $0.11. During the same quarter last year, the firm posted ($0.59) EPS. Analysts anticipate that Syndax Pharmaceuticals will post -3.49 EPS for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CFO Keith A. Goldan purchased 1,250 shares of the company’s stock in a transaction on Friday, June 14th. The shares were bought at an average cost of $20.03 per share, for a total transaction of $25,037.50. Following the completion of the purchase, the chief financial officer now directly owns 52,623 shares of the company’s stock, valued at approximately $1,054,038.69. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several large investors have recently modified their holdings of SNDX. Vanguard Group Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 1.0% during the third quarter. Vanguard Group Inc. now owns 3,617,302 shares of the company’s stock worth $52,523,000 after purchasing an additional 34,632 shares during the period. SG Americas Securities LLC lifted its holdings in Syndax Pharmaceuticals by 196.4% in the fourth quarter. SG Americas Securities LLC now owns 29,169 shares of the company’s stock valued at $630,000 after acquiring an additional 19,328 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in Syndax Pharmaceuticals by 352.2% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 8,058 shares of the company’s stock valued at $174,000 after acquiring an additional 6,276 shares during the period. Arizona State Retirement System increased its position in shares of Syndax Pharmaceuticals by 5.3% in the fourth quarter. Arizona State Retirement System now owns 16,511 shares of the company’s stock valued at $357,000 after buying an additional 835 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Syndax Pharmaceuticals by 11.2% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,897 shares of the company’s stock valued at $1,013,000 after buying an additional 4,705 shares in 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).