Syndax Pharmaceuticals, Inc. $SNDX Stock Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. grew its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 14.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,359,677 shares of the company’s stock after buying an additional 298,272 shares during the quarter. Franklin Resources Inc. owned about 2.74% of Syndax Pharmaceuticals worth $22,098,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in SNDX. Quarry LP bought a new position in shares of Syndax Pharmaceuticals in the first quarter valued at approximately $25,000. Magnetar Financial LLC bought a new position in Syndax Pharmaceuticals during the 1st quarter valued at $132,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Syndax Pharmaceuticals during the 1st quarter valued at $179,000. E Fund Management Co. Ltd. increased its position in shares of Syndax Pharmaceuticals by 27.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 16,031 shares of the company’s stock valued at $197,000 after purchasing an additional 3,428 shares during the period. Finally, Corton Capital Inc. bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter worth $167,000.

Analyst Ratings Changes

Several brokerages recently weighed in on SNDX. B. Riley raised Syndax Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 6th. UBS Group upped their price target on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Tuesday. Barclays lifted their price objective on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Guggenheim initiated coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, September 4th. They set a “buy” rating and a $34.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $37.20.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 157,307 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $16.41, for a total transaction of $2,581,407.87. Following the transaction, the chief executive officer directly owned 298,661 shares in the company, valued at approximately $4,901,027.01. The trade was a 34.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Syndax Pharmaceuticals Trading Up 2.2%

Shares of SNDX opened at $19.87 on Friday. The business’s 50-day moving average price is $15.75 and its 200 day moving average price is $13.15. The company has a current ratio of 4.71, a quick ratio of 4.55 and a debt-to-equity ratio of 2.06. The stock has a market capitalization of $1.73 billion, a P/E ratio of -5.11 and a beta of 0.73. Syndax Pharmaceuticals, Inc. has a 1-year low of $8.58 and a 1-year high of $20.08.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Monday, November 3rd. The company reported ($0.70) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The company had revenue of $45.87 million during the quarter, compared to analysts’ expectations of $49.08 million. During the same period last year, the company posted ($0.98) earnings per share. The business’s revenue for the quarter was up 266.4% on a year-over-year basis. Analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

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).