Syndax Pharmaceuticals (NASDAQ:SNDX) Receives Overweight Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a research report report published on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a $34.00 price objective on the stock.

Several other brokerages have also recently issued reports on SNDX. Stifel Nicolaus raised their target price on shares of Syndax Pharmaceuticals from $39.00 to $40.00 and gave the stock a buy rating in a report on Thursday, May 9th. HC Wainwright reiterated a buy rating and issued a $41.00 price target on shares of Syndax Pharmaceuticals in a report on Thursday, May 9th. Citigroup cut their price target on shares of Syndax Pharmaceuticals from $32.00 to $30.00 and set a buy rating on the stock in a report on Thursday, May 9th. Finally, Scotiabank cut shares of Syndax Pharmaceuticals from a sector outperform rating to a sector perform rating and cut their price target for the company from $36.00 to $23.00 in a report on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of Moderate Buy and an average price target of $34.42.

Syndax Pharmaceuticals Stock Performance

Shares of Syndax Pharmaceuticals stock opened at $20.28 on Tuesday. Syndax Pharmaceuticals has a 52-week low of $11.22 and a 52-week high of $25.34. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of -6.30 and a beta of 1.01. The company’s 50 day moving average price is $21.85 and its 200-day moving average price is $20.76.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Wednesday, May 8th. The company reported ($0.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.11. During the same quarter in the prior year, the firm posted ($0.59) earnings per share. As a group, equities research analysts forecast that Syndax Pharmaceuticals will post -3.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several large investors have recently modified their holdings of SNDX. Wellington Management Group LLP raised its position in Syndax Pharmaceuticals by 2.7% in the 3rd quarter. Wellington Management Group LLP now owns 7,642,446 shares of the company’s stock worth $110,968,000 after buying an additional 198,262 shares during the last quarter. Kynam Capital Management LP raised its position in Syndax Pharmaceuticals by 41.5% in the 4th quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company’s stock worth $122,313,000 after buying an additional 1,660,000 shares during the last quarter. Vanguard Group Inc. raised its position in Syndax Pharmaceuticals by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock worth $117,262,000 after buying an additional 591,631 shares during the last quarter. Avoro Capital Advisors LLC raised its position in Syndax Pharmaceuticals by 65.2% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock worth $91,242,000 after buying an additional 1,666,667 shares during the last quarter. Finally, Avidity Partners Management LP raised its position in Syndax Pharmaceuticals by 40.0% in the 4th quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock worth $85,360,000 after buying an additional 1,129,000 shares during the last quarter.

Syndax Pharmaceuticals Company Profile

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).