StockNews.com Begins Coverage on Syndax Pharmaceuticals (NASDAQ:SNDX)

StockNews.com initiated coverage on shares of Syndax Pharmaceuticals (NASDAQ:SNDX – Get Rating) in a research report report published on Thursday morning. The brokerage issued a sell rating on the stock.

A number of other brokerages have also recently issued reports on SNDX. Stifel Nicolaus started coverage on Syndax Pharmaceuticals in a report on Monday, January 30th. They set a buy rating and a $37.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Syndax Pharmaceuticals from $41.00 to $36.00 and set an overweight rating on the stock in a research note on Tuesday, March 7th. Citigroup upped their target price on shares of Syndax Pharmaceuticals from $29.00 to $32.00 and gave the company a buy rating in a research note on Thursday, March 2nd. The Goldman Sachs Group reduced their price target on shares of Syndax Pharmaceuticals from $39.00 to $34.00 and set a buy rating on the stock in a research report on Wednesday, March 1st. Finally, HC Wainwright restated a buy rating and issued a $33.00 price objective on shares of Syndax Pharmaceuticals in a research report on Wednesday, March 1st. One analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $33.57.

Syndax Pharmaceuticals Price Performance

SNDX opened at $22.25 on Thursday. Syndax Pharmaceuticals has a fifty-two week low of $13.27 and a fifty-two week high of $29.86. The firm has a 50 day simple moving average of $25.56 and a 200 day simple moving average of $24.23.

Syndax Pharmaceuticals (NASDAQ:SNDX – Get Rating) last issued its earnings results on Tuesday, February 28th. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.02. Analysts forecast that Syndax Pharmaceuticals will post -3.04 EPS for the current year.

Insider Activity

In related news, insider Briggs Morrison sold 52,854 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $22.53, for a total transaction of $1,190,800.62. Following the sale, the insider now directly owns 17,836 shares in the company, valued at $401,845.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Michael A. Metzger sold 5,959 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $27.64, for a total value of $164,706.76. Following the sale, the chief executive officer now owns 17,659 shares of the company’s stock, valued at approximately $488,094.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Briggs Morrison sold 52,854 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $22.53, for a total value of $1,190,800.62. Following the transaction, the insider now directly owns 17,836 shares of the company’s stock, valued at approximately $401,845.08. The disclosure for this sale can be found here. Insiders sold 160,667 shares of company stock worth $4,061,340 over the last quarter. 6.30% of the stock is currently owned by company insiders.

Institutional Trading of Syndax Pharmaceuticals

Institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd bought a new position in Syndax Pharmaceuticals in the first quarter valued at $41,000. Great West Life Assurance Co. Can bought a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at about $44,000. High Net Worth Advisory Group LLC increased its position in shares of Syndax Pharmaceuticals by 50.0% in the third quarter. High Net Worth Advisory Group LLC now owns 3,000 shares of the company’s stock valued at $72,000 after acquiring an additional 1,000 shares during the last quarter. Royal Bank of Canada raised its holdings in Syndax Pharmaceuticals by 1,144.7% during the third quarter. Royal Bank of Canada now owns 3,622 shares of the company’s stock worth $87,000 after acquiring an additional 3,331 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Syndax Pharmaceuticals by 2,488.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,659 shares of the company’s stock valued at $111,000 after purchasing an additional 4,479 shares in the last quarter. Institutional investors own 99.11% of the company’s stock.

About Syndax Pharmaceuticals

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Syndax Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the development of cancer therapies. Its product candidates include SNDX-5613 and SNDX-6352. The company was founded by Richard A. Heyman, Eckard Weber, Peter Ordentlich, Ronald M. Evans and Michael Downes on October 11, 2005 and is headquartered in Waltham, MA.