Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Raised to $45.00 at JPMorgan Chase & Co.

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price raised by JPMorgan Chase & Co. from $33.00 to $45.00 in a report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 85.34% from the company’s previous close.

Several other analysts also recently commented on the stock. Barclays raised their target price on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Wall Street Zen raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday. Stifel Nicolaus set a $45.00 price target on shares of Syndax Pharmaceuticals in a research note on Friday, February 27th. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. Finally, Citigroup raised their price objective on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $39.10.

Syndax Pharmaceuticals Trading Up 10.0%

NASDAQ:SNDX traded up $2.21 during trading hours on Monday, hitting $24.28. 1,377,993 shares of the stock were exchanged, compared to its average volume of 1,276,141. The company’s 50 day moving average is $20.89 and its two-hundred day moving average is $18.28. The company has a market capitalization of $2.14 billion, a P/E ratio of -7.38 and a beta of 0.42. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $24.84. The company has a quick ratio of 4.12, a current ratio of 4.40 and a debt-to-equity ratio of 5.32.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.14). Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The business had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.75 million. During the same quarter in the prior year, the firm earned ($1.10) EPS. The firm’s quarterly revenue was up 792.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael A. Metzger sold 17,159 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the sale, the chief executive officer directly owned 491,690 shares of the company’s stock, valued at $10,340,240.70. This represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Keith A. Goldan sold 3,410 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $71,712.30. Following the transaction, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at approximately $2,953,221.87. This trade represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 30,063 shares of company stock valued at $628,332. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Syndax Pharmaceuticals by 478.8% in the 1st quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock worth $4,637,000 after purchasing an additional 312,231 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Syndax Pharmaceuticals by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock valued at $705,000 after buying an additional 3,094 shares in the last quarter. Caxton Associates LLP bought a new stake in Syndax Pharmaceuticals during the 1st quarter valued at about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Syndax Pharmaceuticals by 18.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company’s stock valued at $2,466,000 after buying an additional 30,596 shares during the last quarter. Finally, Teacher Retirement System of Texas grew its holdings in shares of Syndax Pharmaceuticals by 11.9% in the second quarter. Teacher Retirement System of Texas now owns 23,132 shares of the company’s stock worth $217,000 after acquiring an additional 2,458 shares during the period.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.