Citigroup Lowers Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $42.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price decreased by research analysts at Citigroup from $45.00 to $42.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 188.36% from the company’s previous close.

A number of other research analysts have also recently weighed in on SNDX. JPMorgan Chase & Co. raised their price objective on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. StockNews.com downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday. Scotiabank lowered their price objective on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 8th. Finally, The Goldman Sachs Group upped their price objective on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $35.90.

Syndax Pharmaceuticals Stock Performance

SNDX stock traded down $0.92 during trading on Tuesday, reaching $14.57. 1,232,168 shares of the company were exchanged, compared to its average volume of 2,264,467. The stock’s 50 day moving average price is $14.23 and its 200 day moving average price is $16.75. Syndax Pharmaceuticals has a 52-week low of $12.06 and a 52-week high of $25.16. The company has a market cap of $1.24 billion, a P/E ratio of -4.02 and a beta of 0.90.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, March 3rd. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.79). The business had revenue of $7.68 million during the quarter, compared to the consensus estimate of $86.32 million. As a group, equities research analysts forecast that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 13,288 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the transaction, the chief executive officer now directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. This trade represents a 4.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Neil Gallagher sold 4,618 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $71,579.00. Following the transaction, the insider now directly owns 85,095 shares of the company’s stock, valued at $1,318,972.50. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,683 shares of company stock valued at $336,087 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in SNDX. Simplify Asset Management Inc. lifted its stake in shares of Syndax Pharmaceuticals by 62.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock worth $2,352,000 after acquiring an additional 46,992 shares during the period. Franklin Resources Inc. increased its position in shares of Syndax Pharmaceuticals by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock valued at $34,948,000 after purchasing an additional 208,043 shares during the period. State Street Corp raised its stake in shares of Syndax Pharmaceuticals by 4.1% in the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after buying an additional 148,491 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 6.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company’s stock valued at $13,397,000 after buying an additional 41,458 shares during the period. Finally, Barclays PLC boosted its stake in Syndax Pharmaceuticals by 143.4% during the third quarter. Barclays PLC now owns 187,629 shares of the company’s stock valued at $3,612,000 after buying an additional 110,535 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).