Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded by StockNews.com to “Sell” Rating

StockNews.com upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) to a sell rating in a report issued on Wednesday.

A number of other analysts also recently issued reports on SNDX. Citigroup lowered their price target on Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a research note on Thursday, March 20th. Scotiabank cut their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th. Finally, HC Wainwright reissued a “buy” rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $36.20.

Syndax Pharmaceuticals Stock Up 8.0 %

SNDX stock opened at $12.97 on Wednesday. Syndax Pharmaceuticals has a 52 week low of $11.63 and a 52 week high of $25.07. The firm has a market capitalization of $1.12 billion, a P/E ratio of -3.57 and a beta of 0.92. The company has a fifty day simple moving average of $14.23 and a two-hundred day simple moving average of $15.75.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, March 3rd. The company reported ($1.10) 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 the consensus estimate of $86.32 million. As a group, analysts anticipate that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Insider Activity at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,777 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $58,543.50. Following the completion of the sale, the chief financial officer now directly owns 90,746 shares of the company’s stock, valued at $1,406,563. The trade was a 4.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $71,579.00. Following the transaction, the insider now directly owns 85,095 shares in the company, valued at $1,318,972.50. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,683 shares of company stock worth $336,087. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. boosted its stake in shares of Syndax Pharmaceuticals by 343.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock valued at $27,292,000 after purchasing an additional 1,598,428 shares in the last quarter. Soleus Capital Management L.P. lifted its holdings in Syndax Pharmaceuticals by 128.4% during the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after buying an additional 1,401,016 shares during the period. Octagon Capital Advisors LP bought a new stake in Syndax Pharmaceuticals during the 4th quarter valued at $11,951,000. Renaissance Technologies LLC purchased a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at $9,002,000. Finally, Trexquant Investment LP raised its position in shares of Syndax Pharmaceuticals by 1,309.7% in the 4th quarter. Trexquant Investment LP now owns 471,292 shares of the company’s stock worth $6,230,000 after acquiring an additional 437,859 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).