Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX – Get Rating) have been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating and six have issued a buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $33.57.

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Syndax Pharmaceuticals from $41.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, March 7th. HC Wainwright reissued a “buy” rating and set a $33.00 price objective on shares of Syndax Pharmaceuticals in a report on Wednesday, March 1st. The Goldman Sachs Group cut their target price on shares of Syndax Pharmaceuticals from $39.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, March 1st. Stifel Nicolaus assumed coverage on shares of Syndax Pharmaceuticals in a research report on Monday, January 30th. They set a “buy” rating and a $37.00 target price for the company. Finally, Citigroup upped their price target on shares of Syndax Pharmaceuticals from $29.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, March 2nd.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, Director Pierre Legault sold 24,000 shares of the stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $26.74, for a total transaction of $641,760.00. Following the transaction, the director now owns 32,000 shares of the company’s stock, valued at approximately $855,680. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Pierre Legault sold 24,000 shares of the stock in a transaction dated Thursday, January 12th. The stock was sold at an average price of $26.74, for a total value of $641,760.00. Following the transaction, the director now owns 32,000 shares in the company, valued at approximately $855,680. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Briggs Morrison sold 52,854 shares of the firm’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,418,072.82. Following the transaction, the insider now owns 17,836 shares in the company, valued at $478,539.88. The disclosure for this sale can be found here. Insiders sold a total of 160,667 shares of company stock worth $4,061,340 in the last three months. 6.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Large investors have recently bought and sold shares of the company. Jennison Associates LLC purchased a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at about $39,645,000. Braidwell LP purchased a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at about $31,629,000. Deerfield Management Company L.P. Series C purchased a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $21,378,000. Point72 Asset Management L.P. purchased a new position in shares of Syndax Pharmaceuticals in the 4th quarter valued at about $23,501,000. Finally, Commodore Capital LP purchased a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at about $17,737,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Syndax Pharmaceuticals Trading Down 1.1 %

Syndax Pharmaceuticals stock opened at $22.25 on Friday. The company has a market cap of $1.52 billion, a price-to-earnings ratio of -9.08 and a beta of 1.04. The business’s 50 day simple moving average is $25.56 and its 200 day simple moving average is $24.23. Syndax Pharmaceuticals has a 12 month low of $13.27 and a 12 month high of $29.86.

Syndax Pharmaceuticals (NASDAQ:SNDX – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The company reported ($0.62) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.02. As a group, equities research analysts forecast that Syndax Pharmaceuticals will post -3.04 earnings per share for the current fiscal year.

Syndax Pharmaceuticals Company Profile

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Syndax Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the development of cancer therapies. Its product candidates include SNDX-5613 and SNDX-6352. The company was founded by Richard A. Heyman, Eckard Weber, Peter Ordentlich, Ronald M. Evans and Michael Downes on October 11, 2005 and is headquartered in Waltham, MA.