Oppenheimer Holdings, Inc. Boosts Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Price Target to $29.00
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) had its price target upped by analysts at Oppenheimer Holdings, Inc. to $29.00 in a note issued to investors on Friday. The brokerage currently has an “outperform” rating on the stock. Oppenheimer Holdings, Inc.’s price objective would suggest a potential upside of 160.09% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. ValuEngine upgraded Syndax Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 18th. Cowen and Company restated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 9th. Zacks Investment Research upgraded Syndax Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a research note on Friday, May 12th. Morgan Stanley restated an “overweight” rating and issued a $25.00 target price (up from $24.00) on shares of Syndax Pharmaceuticals in a research note on Monday, July 10th. Finally, Citigroup Inc. set a $24.00 target price on Syndax Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, May 19th. One research analyst has rated the stock with a sell rating and eleven have given a buy rating to the stock. Syndax Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $25.13.
Syndax Pharmaceuticals (NASDAQ SNDX) opened at 11.15 on Friday. The firm has a 50-day moving average price of $13.16 and a 200-day moving average price of $11.66. Syndax Pharmaceuticals has a 52-week low of $6.31 and a 52-week high of $18.03. The company’s market cap is $203.54 million.
Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Monday, May 8th. The company reported ($0.71) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.03. The business had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.31 million. Syndax Pharmaceuticals had a negative return on equity of 52.82% and a negative net margin of 3,861.72%. On average, analysts forecast that Syndax Pharmaceuticals will post ($3.60) EPS for the current year.
In other news, insider Peter Ordentlich sold 5,000 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $15.00, for a total transaction of $75,000.00. Following the transaction, the insider now directly owns 5,000 shares in the company, valued at approximately $75,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 24.10% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Airain ltd purchased a new position in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $150,000. Bank of Montreal Can purchased a new position in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $158,000. C WorldWide Group Holding A S purchased a new position in shares of Syndax Pharmaceuticals during the first quarter valued at approximately $163,000. Teachers Advisors LLC raised its position in shares of Syndax Pharmaceuticals by 109.9% in the second quarter. Teachers Advisors LLC now owns 15,451 shares of the company’s stock valued at $216,000 after buying an additional 8,091 shares during the period. Finally, Alps Advisors Inc. purchased a new position in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $277,000. Hedge funds and other institutional investors own 53.46% of the company’s stock.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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