Syndax Pharmaceuticals, Inc. (SNDX) Given a $20.00 Price Target by Citigroup Inc. Analysts
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been assigned a $20.00 target price by analysts at Citigroup Inc. in a report released on Friday. The firm presently has a “buy” rating on the stock. Citigroup Inc.’s price target would indicate a potential upside of 79.37% from the stock’s current price.
SNDX has been the subject of several other research reports. Cowen and Company restated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 9th. Morgan Stanley restated an “overweight” rating and set a $25.00 target price (up previously from $24.00) on shares of Syndax Pharmaceuticals in a research note on Monday, July 10th. Zacks Investment Research downgraded Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Oppenheimer Holdings, Inc. set a $25.00 target price on Syndax Pharmaceuticals and gave the company a “buy” rating in a research note on Thursday, May 18th. Finally, ValuEngine raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $24.33.
Syndax Pharmaceuticals (NASDAQ SNDX) traded down 1.97% during midday trading on Friday, reaching $10.93. The company’s stock had a trading volume of 177,238 shares. The stock has a 50 day moving average of $13.16 and a 200 day moving average of $11.66. Syndax Pharmaceuticals has a 52 week low of $6.31 and a 52 week high of $18.03. The firm’s market capitalization is $199.53 million.
Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Thursday, August 10th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.79) by $0.09. Syndax Pharmaceuticals had a negative return on equity of 52.82% and a negative net margin of 3,861.72%. The firm had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.31 million. On average, equities research analysts predict that Syndax Pharmaceuticals will post ($3.60) earnings per share for the current fiscal year.
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In other Syndax Pharmaceuticals news, insider Peter Ordentlich sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $15.00, for a total value of $75,000.00. Following the completion of the transaction, the insider now owns 5,000 shares of the company’s stock, valued at approximately $75,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 24.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its position in Syndax Pharmaceuticals by 8.3% in the first quarter. Wellington Management Group LLP now owns 2,539,820 shares of the company’s stock valued at $34,847,000 after buying an additional 195,172 shares during the period. Jennison Associates LLC bought a new position in shares of Syndax Pharmaceuticals during the second quarter worth about $13,325,000. Vanguard Group Inc. boosted its position in shares of Syndax Pharmaceuticals by 25.1% in the second quarter. Vanguard Group Inc. now owns 512,624 shares of the company’s stock worth $7,161,000 after buying an additional 102,700 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Syndax Pharmaceuticals by 11,266.0% in the second quarter. JPMorgan Chase & Co. now owns 439,070 shares of the company’s stock worth $6,134,000 after buying an additional 435,207 shares during the last quarter. Finally, Artal Group S.A. boosted its position in shares of Syndax Pharmaceuticals by 50.0% in the second quarter. Artal Group S.A. now owns 300,000 shares of the company’s stock worth $4,191,000 after buying an additional 100,000 shares during the last quarter. 53.46% of the stock is owned by hedge funds and other institutional investors.
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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