Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Consensus Rating of “Moderate Buy” from Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $34.64.

SNDX has been the topic of a number of analyst reports. HC Wainwright reiterated a “buy” rating and issued a $41.00 target price on shares of Syndax Pharmaceuticals in a research report on Monday, July 29th. Scotiabank cut Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Stifel Nicolaus boosted their target price on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Jefferies Financial Group started coverage on 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 lowered their price objective on Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, May 9th.

Insider Activity at Syndax Pharmaceuticals

In related news, CFO Keith A. Goldan acquired 1,250 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average cost 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 of the company’s stock, valued at $1,054,038.69. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC bought a new stake in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $33,000. CWM LLC lifted its position in Syndax Pharmaceuticals by 415.3% during the fourth quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after buying an additional 1,358 shares during the period. MeadowBrook Investment Advisors LLC bought a new stake in shares of Syndax Pharmaceuticals during the 4th quarter valued at $37,000. Quadrant Capital Group LLC grew its position in shares of Syndax Pharmaceuticals by 158.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $53,000 after buying an additional 1,496 shares during the period. Finally, Signaturefd LLC increased its stake in shares of Syndax Pharmaceuticals by 2,874.6% in the 4th quarter. Signaturefd LLC now owns 3,748 shares of the company’s stock worth $81,000 after acquiring an additional 3,622 shares in the last quarter.

Syndax Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ SNDX opened at $19.90 on Wednesday. The stock’s 50-day moving average is $21.14 and its 200 day moving average is $21.73. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -6.18 and a beta of 0.94. Syndax Pharmaceuticals has a 1-year low of $11.22 and a 1-year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) EPS for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.11. The business had revenue of $3.50 million for the quarter. Syndax Pharmaceuticals’s revenue was up 3499999990.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.64) EPS. On average, analysts forecast that Syndax Pharmaceuticals will post -3.55 EPS for the current fiscal year.

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).