Barclays Increases Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $35.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective upped by research analysts at Barclays from $22.00 to $35.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 79.95% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Citigroup raised their target price on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. Guggenheim started coverage on shares of Syndax Pharmaceuticals in a report on Thursday, September 4th. They set a “buy” rating and a $34.00 price objective on the stock. Stifel Nicolaus started coverage on shares of Syndax Pharmaceuticals in a research note on Wednesday, September 10th. They issued a “buy” rating and a $44.00 price objective for the company. Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $37.20.

Syndax Pharmaceuticals Price Performance

Shares of SNDX stock opened at $19.45 on Monday. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $20.08. The company has a current ratio of 4.71, a quick ratio of 4.55 and a debt-to-equity ratio of 2.06. The stock has a fifty day simple moving average of $15.56 and a two-hundred day simple moving average of $13.06. The stock has a market capitalization of $1.69 billion, a price-to-earnings ratio of -5.00 and a beta of 0.73.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The firm had revenue of $45.87 million during the quarter, compared to the consensus estimate of $49.08 million. During the same period in the previous year, the company posted ($0.98) earnings per share. The firm’s quarterly revenue was up 266.4% on a year-over-year basis. On average, analysts predict that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 157,307 shares of Syndax Pharmaceuticals stock in a transaction on Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the transaction, the chief executive officer directly owned 298,661 shares of the company’s stock, valued at approximately $4,901,027.01. The trade was a 34.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Syndax Pharmaceuticals

A number of institutional investors have recently made changes to their positions in SNDX. Quarry LP purchased a new position in Syndax Pharmaceuticals during the 1st quarter worth $25,000. Larson Financial Group LLC raised its stake in Syndax Pharmaceuticals by 192.2% in the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after buying an additional 1,922 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Syndax Pharmaceuticals in the third quarter worth about $53,000. Lazard Asset Management LLC purchased a new stake in shares of Syndax Pharmaceuticals during the second quarter worth about $66,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Syndax Pharmaceuticals by 103.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after acquiring an additional 4,308 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).