Analysts Set Price Target for Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) at $36.20

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has recently been analyzed by multiple brokerages, resulting in an overall recommendation of "Moderate Buy" from ten covering firms, according to MarketBeat. Of these analysts, one has suggested holding the stock, while nine have recommended a buy. The average price target for the next year established by these brokerages is set at $36.20.

Several research firms have provided their insights regarding Syndax Pharmaceuticals. On November 19th, Citigroup raised its price target from $37.00 to $45.00 while maintaining a "buy" rating. HC Wainwright followed up by reaffirming a "buy" rating and setting a price target of $51.00 in a note released on December 10th. Conversely, on January 8th, Scotiabank lowered their price target from $18.00 to $16.00, categorizing the stock as a "sector perform." On October 24th, UBS Group began coverage of Syndax Pharmaceuticals, labeling it a "buy" with a target of $37.00. Goldman Sachs also raised their target from $30.00 to $33.00 while giving the stock a "buy" rating on November 7th.

Syndax Pharmaceuticals Trading Insights

On Friday, SNDX commenced trading at $14.62, down 2.0%. The company’s 50-day moving average is $13.87, while its 200-day moving average stands at $17.06. Over the past year, the stock has hit a low of $12.06 and a high of $25.34, demonstrating volatility. Syndax Pharmaceuticals currently holds a market capitalization of $1.25 billion, a price-to-earnings (P/E) ratio of -4.03, and a beta of 0.90, indicating less volatility compared to the market.

Recent Insider Transactions

In recent activity involving the company's leadership, CEO Michael A. Metzger sold 13,288 shares on February 10th, with an average sale price of $15.50, amounting to a total of $205,964. Following this transaction, Metzger retains ownership of 300,121 shares valued at approximately $4.65 million, representing a 4.24% reduction in his stake. Additionally, insider Neil Gallagher sold 4,618 shares on the same day for $71,579. Gallagher now possesses 85,095 shares valued at $1.32 million after this trade, reflecting a 5.15% decrease in his holdings. Insider sales have totaled 21,683 shares worth $336,087 within the last three months, and currently, insiders own 4.10% of the company's stock.

Institutional Investment Movements

Recent activities by hedge funds show some shifts in their holdings of Syndax Pharmaceuticals. Inspire Investing LLC raised its stake by 23.2% during the third quarter, now owning 21,308 shares worth $410,000 after adding 4,018 shares. Assenagon Asset Management S.A. increased their holdings by 8.6%, bringing their total to 466,028 shares valued at roughly $8.97 million after acquiring an additional 37,079 shares. Values First Advisors Inc. entered the scene with a new stake valued at $30,000 during the same period. Mirae Asset Global Investments Co. Ltd. raised its stake by 21.3%, now holding 3,078 shares worth $58,000. Finally, China Universal Asset Management Co. Ltd. boosted its position by 63.9%, owning 16,367 shares worth $315,000 after acquiring 6,383 additional shares in the third quarter.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company dedicated to developing cancer treatments. The company's main product candidates include revumenib, a small molecule inhibitor aimed at treating KMT2A rearranged acute leukemias and solid tumors, and SNDX-6352 (axatilimab), a monoclonal antibody targeting the CSF-1 receptor for chronic graft-versus-host disease and idiopathic pulmonary fibrosis.

Syndax, Pharmaceuticals, Stock