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

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective hoisted by analysts at JPMorgan Chase & Co. from $33.00 to $38.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 151.66% from the company’s previous close.

Other analysts have also issued research reports about the company. HC Wainwright raised their target price on Syndax Pharmaceuticals from $49.00 to $51.00 and gave the company a “buy” rating in a report on Monday. Citigroup raised their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday. StockNews.com raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Stifel Nicolaus boosted their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, UBS Group began coverage on Syndax Pharmaceuticals in a research report on Thursday, October 24th. They set a “buy” rating and a $37.00 target price on the stock. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $37.64.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX traded down $0.85 during trading hours on Thursday, reaching $15.10. The company’s stock had a trading volume of 911,152 shares, compared to its average volume of 1,148,398. Syndax Pharmaceuticals has a one year low of $15.00 and a one year high of $25.34. The business’s 50-day moving average is $18.71 and its 200-day moving average is $20.08. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -4.41 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.15. The firm had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same quarter last year, the business earned ($0.73) EPS. On average, sell-side analysts predict that Syndax Pharmaceuticals will post -3.69 EPS for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC grew its holdings in Syndax Pharmaceuticals by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after acquiring an additional 66,459 shares during the last quarter. Barclays PLC lifted its position in Syndax Pharmaceuticals by 143.4% during the 3rd quarter. Barclays PLC now owns 187,629 shares of the company’s stock valued at $3,612,000 after purchasing an additional 110,535 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in Syndax Pharmaceuticals by 319.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 81,302 shares of the company’s stock valued at $1,565,000 after acquiring an additional 61,916 shares during the last quarter. Two Sigma Advisers LP grew its stake in shares of Syndax Pharmaceuticals by 7.7% during the third quarter. Two Sigma Advisers LP now owns 669,352 shares of the company’s stock worth $12,885,000 after purchasing an additional 48,100 shares during the period. Finally, Sphera Funds Management LTD. grew its position in shares of Syndax Pharmaceuticals by 25.9% during the 3rd quarter. Sphera Funds Management LTD. now owns 1,034,846 shares of the company’s stock worth $19,921,000 after buying an additional 212,799 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).