Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $34.73 Consensus Target Price from Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been given an average recommendation of “Moderate Buy” by the nine analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $34.73.

A number of equities research analysts recently weighed in on SNDX shares. Stifel Nicolaus raised their price objective on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Jefferies Financial Group assumed coverage on shares of Syndax Pharmaceuticals in a research report on Friday, June 28th. They issued a “buy” rating and a $37.00 price objective on the stock. Scotiabank cut shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $34.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 21st. Finally, HC Wainwright reissued a “buy” rating and issued a $41.00 price objective on shares of Syndax Pharmaceuticals in a research report on Monday, July 29th.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX opened at $21.04 on Wednesday. The firm has a 50-day simple moving average of $21.15 and a 200-day simple moving average of $21.74. Syndax Pharmaceuticals has a one year low of $11.22 and a one year high of $25.34. The firm has a market cap of $1.79 billion, a P/E ratio of -6.53 and a beta of 0.94.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.11. The company had revenue of $3.50 million for the quarter. The firm’s revenue for the quarter was up 3499999990.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.64) EPS. On average, research analysts predict that Syndax Pharmaceuticals will post -3.55 EPS for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan purchased 1,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average price 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 in the company, valued at $1,054,038.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. Kynam Capital Management LP lifted its holdings in shares of Syndax Pharmaceuticals by 41.5% in the 4th quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company’s stock valued at $122,313,000 after buying an additional 1,660,000 shares during the period. Vanguard Group Inc. lifted its holdings in Syndax Pharmaceuticals by 13.6% in the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after acquiring an additional 591,631 shares during the period. Avoro Capital Advisors LLC boosted its position in Syndax Pharmaceuticals by 65.2% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock worth $91,242,000 after purchasing an additional 1,666,667 shares in the last quarter. Avidity Partners Management LP grew its stake in shares of Syndax Pharmaceuticals by 40.0% during the 4th quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock worth $85,360,000 after purchasing an additional 1,129,000 shares during the period. Finally, Point72 Asset Management L.P. grew its stake in shares of Syndax Pharmaceuticals by 35.3% during the 4th quarter. Point72 Asset Management L.P. now owns 2,834,499 shares of the company’s stock worth $61,254,000 after purchasing an additional 740,298 shares during the period.

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).