Jennison Associates LLC lessened its holdings in Syndax Pharmaceuticals Inc (NASDAQ:SNDX) by 44.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 531,028 shares of the company’s stock after selling 420,870 shares during the period. Jennison Associates LLC owned 2.18% of Syndax Pharmaceuticals worth $4,652,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its position in Syndax Pharmaceuticals by 421.9% during the 2nd quarter. New York State Common Retirement Fund now owns 9,400 shares of the company’s stock worth $131,000 after acquiring an additional 7,599 shares during the last quarter. Trexquant Investment LP acquired a new position in Syndax Pharmaceuticals during the 3rd quarter worth $133,000. Dynamic Technology Lab Private Ltd acquired a new position in Syndax Pharmaceuticals during the 3rd quarter worth $154,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Syndax Pharmaceuticals during the 3rd quarter worth $163,000. Finally, Dimensional Fund Advisors LP acquired a new position in Syndax Pharmaceuticals during the 2nd quarter worth $192,000. 59.92% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on SNDX shares. Zacks Investment Research lowered shares of Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. B. Riley started coverage on shares of Syndax Pharmaceuticals in a research report on Friday, January 5th. They set a “buy” rating and a $40.00 target price for the company. Finally, BidaskClub raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.38.
Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.68) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.80) by $0.12. Syndax Pharmaceuticals had a negative net margin of 4,304.34% and a negative return on equity of 57.90%. The firm had revenue of $0.31 million for the quarter, compared to analysts’ expectations of $0.30 million. During the same period in the prior year, the firm earned ($0.84) earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. research analysts anticipate that Syndax Pharmaceuticals Inc will post -2.92 earnings per share for the current fiscal year.
Syndax Pharmaceuticals 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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