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

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target upped by research analysts at JPMorgan Chase & Co. from $35.00 to $39.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 171.19% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. HC Wainwright reiterated a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday. The Goldman Sachs Group boosted their price target on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Citigroup reduced their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Scotiabank dropped their price objective on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $36.00.

Syndax Pharmaceuticals Stock Performance

SNDX traded down $1.10 on Tuesday, hitting $14.38. 1,297,760 shares of the company were exchanged, compared to its average volume of 2,264,467. Syndax Pharmaceuticals has a fifty-two week low of $12.06 and a fifty-two week high of $25.16. The firm has a market capitalization of $1.23 billion, a P/E ratio of -3.98 and a beta of 0.90. The business’s fifty day moving average is $14.23 and its 200 day moving average is $16.75.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.79). The company had revenue of $7.68 million during the quarter, compared to analysts’ expectations of $86.32 million. Analysts forecast that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 13,288 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $205,964.00. Following the completion of the sale, the chief executive officer now owns 300,121 shares of the company’s stock, valued at approximately $4,651,875.50. The trade was a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith A. Goldan sold 3,777 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was 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 of the company’s stock, valued at $1,406,563. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,683 shares of company stock worth $336,087 in the last three months. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Simplify Asset Management Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 62.5% during the 3rd quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock valued at $2,352,000 after acquiring an additional 46,992 shares in the last quarter. Franklin Resources Inc. raised its position in Syndax Pharmaceuticals by 13.4% in 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. State Street Corp lifted its stake in shares of Syndax Pharmaceuticals by 4.1% during the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after purchasing an additional 148,491 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Syndax Pharmaceuticals by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company’s stock worth $13,397,000 after buying an additional 41,458 shares during the period. Finally, Barclays PLC grew its stake in shares of Syndax Pharmaceuticals by 143.4% in the third quarter. Barclays PLC now owns 187,629 shares of the company’s stock valued at $3,612,000 after buying an additional 110,535 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).