Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) had its target price cut by analysts at Nomura from $27.00 to $22.00 in a research report issued to clients and investors on Friday. The brokerage presently has a “buy” rating on the stock. Nomura’s price target suggests a potential upside of 97.31% from the company’s previous close.

SNDX has been the topic of a number of other research reports. Oppenheimer Holdings, Inc. set a $25.00 price objective on Syndax Pharmaceuticals and gave the company a “buy” rating in a report on Monday, May 8th. 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 price target on the stock in a research note on Friday, May 12th. ValuEngine upgraded Syndax Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 18th. Finally, Citigroup Inc. set a $24.00 price target on Syndax Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, May 19th. One equities research analyst has rated the stock with a sell rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $24.78.

Shares of Syndax Pharmaceuticals (NASDAQ SNDX) traded down 1.79% during mid-day trading on Friday, reaching $10.95. The company had a trading volume of 159,453 shares. The stock’s 50-day moving average price is $13.16 and its 200 day moving average price is $11.66. The company’s market capitalization is $199.89 million. Syndax Pharmaceuticals has a 1-year low of $6.31 and a 1-year high of $18.03.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Thursday, August 10th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 for the quarter, compared to analyst estimates of $0.31 million. Equities analysts expect that Syndax Pharmaceuticals will post ($3.60) EPS for the current year.

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In related news, insider Peter Ordentlich sold 5,000 shares of the firm’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 directly owns 5,000 shares of the company’s stock, valued at approximately $75,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 24.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in SNDX. Bank of New York Mellon Corp increased its stake in shares of Syndax Pharmaceuticals by 50.6% in the second quarter. Bank of New York Mellon Corp now owns 44,025 shares of the company’s stock worth $615,000 after buying an additional 14,798 shares in the last quarter. Alps Advisors Inc. purchased a new position in shares of Syndax Pharmaceuticals during the second quarter worth $277,000. Bank of Montreal Can purchased a new position in shares of Syndax Pharmaceuticals during the second quarter worth $158,000. Point72 Asset Management L.P. purchased a new position in shares of Syndax Pharmaceuticals during the first quarter worth $1,358,000. Finally, Oppenheimer & Co. Inc. purchased a new position in shares of Syndax Pharmaceuticals during the first quarter worth $365,000. 53.46% of the stock is owned by 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.

Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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