Syndax Pharmaceuticals (NASDAQ:SNDX) PT Raised to $40.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target raised by research analysts at Stifel Nicolaus from $39.00 to $40.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 77.78% from the stock’s current price.

A number of other brokerages also recently issued reports on SNDX. HC Wainwright reiterated a “buy” rating and set a $41.00 price objective on shares of Syndax Pharmaceuticals in a research note on Thursday. JPMorgan Chase & Co. increased their price objective on shares of Syndax Pharmaceuticals from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a research note on Friday, January 19th. Finally, Scotiabank downgraded shares of Syndax Pharmaceuticals from a “sector outperform” rating to a “sector perform” rating and reduced their price target for the company from $36.00 to $23.00 in a research note on Wednesday, January 31st. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $34.75.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock traded up $0.12 on Thursday, hitting $22.50. The company’s stock had a trading volume of 36,931 shares, compared to its average volume of 1,107,102. The stock’s 50 day moving average is $22.47 and its 200-day moving average is $20.16. Syndax Pharmaceuticals has a fifty-two week low of $11.22 and a fifty-two week high of $25.34. The company has a market capitalization of $1.91 billion, a PE ratio of -7.61 and a beta of 1.01.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.85) EPS for the quarter, beating the consensus estimate of ($0.96) by $0.11. During the same quarter last year, the company earned ($0.59) earnings per share. On average, research analysts forecast that Syndax Pharmaceuticals will post -3.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Teacher Retirement System of Texas raised its holdings in Syndax Pharmaceuticals by 5.1% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,619 shares of the company’s stock valued at $227,000 after buying an additional 757 shares during the last quarter. Arizona State Retirement System raised its holdings in Syndax Pharmaceuticals by 5.3% during the 4th quarter. Arizona State Retirement System now owns 16,511 shares of the company’s stock worth $357,000 after purchasing an additional 835 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Syndax Pharmaceuticals by 97.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 1,782 shares of the company’s stock worth $26,000 after purchasing an additional 880 shares during the last quarter. Sei Investments Co. raised its holdings in Syndax Pharmaceuticals by 2.5% during the 1st quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock worth $963,000 after purchasing an additional 991 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Syndax Pharmaceuticals by 3.6% during the 3rd quarter. New York State Common Retirement Fund now owns 30,825 shares of the company’s stock worth $448,000 after purchasing an additional 1,080 shares during 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).