JPMorgan Chase & Co. Increases Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $41.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target raised by equities researchers at JPMorgan Chase & Co. from $39.00 to $41.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 197.10% from the company’s current price.

A number of other research analysts also recently issued reports on SNDX. Scotiabank cut their price objective on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 8th. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. HC Wainwright reiterated a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Finally, Citigroup decreased their price objective on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

Syndax Pharmaceuticals Stock Up 5.2 %

Shares of Syndax Pharmaceuticals stock traded up $0.68 on Thursday, reaching $13.80. The stock had a trading volume of 638,205 shares, compared to its average volume of 2,167,220. The company has a 50 day moving average price of $14.22 and a 200 day moving average price of $16.18. Syndax Pharmaceuticals has a 1 year low of $12.06 and a 1 year high of $25.07. The stock has a market capitalization of $1.19 billion, a P/E ratio of -3.80 and a beta of 0.92.

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 analysts’ consensus estimates of ($0.31) by ($0.79). The firm had revenue of $7.68 million for the quarter, compared to analysts’ expectations of $86.32 million. On average, analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 13,288 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $205,964.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Neil Gallagher sold 4,618 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $71,579.00. Following the transaction, the insider now directly owns 85,095 shares in the company, valued at approximately $1,318,972.50. The trade was a 5.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,683 shares of company stock valued at $336,087 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Polar Asset Management Partners Inc. acquired a new position in Syndax Pharmaceuticals in the fourth quarter valued at about $1,124,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Syndax Pharmaceuticals by 23.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 170,100 shares of the company’s stock worth $2,249,000 after purchasing an additional 32,653 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the fourth quarter worth about $1,045,000. Soleus Capital Management L.P. lifted its position in shares of 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 purchasing an additional 1,401,016 shares in the last quarter. Finally, Twinbeech Capital LP lifted its position in shares of Syndax Pharmaceuticals by 79.2% during the fourth quarter. Twinbeech Capital LP now owns 355,900 shares of the company’s stock worth $4,705,000 after purchasing an additional 157,321 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).