Bank of New York Mellon Corp boosted its stake in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 43.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 29,227 shares of the company’s stock after buying an additional 8,861 shares during the period. Bank of New York Mellon Corp owned about 0.16% of Syndax Pharmaceuticals worth $401,000 at the end of the most recent reporting period.
Separately, C WorldWide Group Holding A S purchased a new stake in shares of Syndax Pharmaceuticals during the first quarter valued at approximately $163,000. 53.59% of the stock is currently owned by institutional investors.
Syndax Pharmaceuticals, Inc. (NASDAQ SNDX) opened at 12.73 on Friday. Syndax Pharmaceuticals, Inc. has a 12-month low of $6.31 and a 12-month high of $18.03. The company’s market cap is $232.39 million. The firm has a 50 day moving average price of $13.09 and a 200 day moving average price of $11.51.
Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, May 8th. The company reported ($0.71) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.74) by $0.03. Syndax Pharmaceuticals had a negative net margin of 3,861.72% and a negative return on equity of 52.82%. The business had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $0.31 million. On average, analysts anticipate that Syndax Pharmaceuticals, Inc. will post ($3.60) earnings per share for the current fiscal year.
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Several equities research analysts recently commented on SNDX shares. ValuEngine raised Syndax Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, May 18th. Cowen and Company reissued a “buy” rating on shares of Syndax Pharmaceuticals in a report on Tuesday, May 9th. Zacks Investment Research raised Syndax Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a report on Friday, May 12th. Morgan Stanley reissued an “overweight” rating and set a $25.00 target price (up previously from $24.00) on shares of Syndax Pharmaceuticals in a report on Monday, July 10th. Finally, Oppenheimer Holdings, Inc. set a $25.00 target price on Syndax Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, May 8th. One analyst has rated the stock with a sell rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $24.63.
In other news, insider Peter Ordentlich sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $15.00, for a total transaction of $75,000.00. Following the sale, the insider now directly owns 5,000 shares of the company’s stock, valued at $75,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 24.10% of the stock is owned by corporate insiders.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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