Barclays Increases Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $33.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target boosted by equities researchers at Barclays from $32.00 to $33.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 65.50% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. HC Wainwright reaffirmed a “buy” rating and set a $41.00 price objective on shares of Syndax Pharmaceuticals in a research note on Monday, July 29th. Stifel Nicolaus raised their price target on Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Jefferies Financial Group started coverage on Syndax Pharmaceuticals in a research note on Friday, June 28th. They issued a “buy” rating and a $37.00 price objective on the stock. Scotiabank lowered Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Finally, Citigroup cut their price target on Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $34.50.

Syndax Pharmaceuticals Stock Up 1.8 %

SNDX traded up $0.36 during midday trading on Thursday, reaching $19.94. 212,248 shares of the company’s stock were exchanged, compared to its average volume of 1,102,312. The business has a 50-day simple moving average of $21.20 and a two-hundred day simple moving average of $21.69. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -6.26 and a beta of 0.94. Syndax Pharmaceuticals has a one year low of $11.22 and a one year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Thursday, August 1st. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.91) by $0.11. The company had revenue of $3.50 million for the quarter. During the same period in the previous year, the business earned ($0.64) EPS. Syndax Pharmaceuticals’s revenue for the quarter was up 3499999990.0% compared to the same quarter last year. As a group, research analysts anticipate that Syndax Pharmaceuticals will post -3.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Keith A. Goldan bought 1,250 shares of the stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $20.03 per share, with a total value of $25,037.50. Following the completion of the purchase, the chief financial officer now owns 52,623 shares of the company’s stock, valued at $1,054,038.69. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several large investors have recently modified their holdings of SNDX. nVerses Capital LLC acquired a new stake in shares of Syndax Pharmaceuticals during the second quarter worth $33,000. CWM LLC lifted its holdings in shares of Syndax Pharmaceuticals by 415.3% in the fourth quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after purchasing an additional 1,358 shares in the last quarter. MeadowBrook Investment Advisors LLC acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth about $37,000. Quadrant Capital Group LLC raised its position in Syndax Pharmaceuticals by 158.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $53,000 after buying an additional 1,496 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in Syndax Pharmaceuticals by 2,874.6% in the 4th quarter. Signaturefd LLC now owns 3,748 shares of the company’s stock valued at $81,000 after acquiring an additional 3,622 shares in the last quarter.

About Syndax Pharmaceuticals

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).