Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Raised to $38.00 at UBS Group

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price lifted by investment analysts at UBS Group from $35.00 to $38.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target would suggest a potential upside of 153.11% from the stock’s previous close.

Several other equities research analysts also recently issued reports on the company. Citigroup raised their price target on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. B. Riley upgraded shares of Syndax Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, August 6th. Barclays raised their price target on shares of Syndax Pharmaceuticals from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday. Weiss Ratings restated a “sell (e+)” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus initiated coverage on shares of Syndax Pharmaceuticals in a research note on Wednesday, September 10th. They issued a “buy” rating and a $44.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.70.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock traded up $1.25 during mid-day trading on Tuesday, hitting $15.01. 2,212,440 shares of the company were exchanged, compared to its average volume of 2,337,161. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55. The business’s 50 day simple moving average is $15.34 and its two-hundred day simple moving average is $12.58. The company has a market capitalization of $1.29 billion, a P/E ratio of -3.87 and a beta of 0.68. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $22.50.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.04. The business had revenue of $45.87 million during the quarter, compared to the consensus estimate of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The business’s revenue for the quarter was up 266.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.98) earnings per share. Analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 157,307 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the completion of the transaction, the chief executive officer owned 298,661 shares of the company’s stock, valued at $4,901,027.01. The trade was a 34.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis Podlesak sold 19,200 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.84, for a total transaction of $304,128.00. Following the completion of the transaction, the director directly owned 191,763 shares of the company’s stock, valued at $3,037,525.92. This trade represents a 9.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 195,707 shares of company stock valued at $3,183,904 in the last three months. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in SNDX. Bank of America Corp DE grew its holdings in shares of Syndax Pharmaceuticals by 33.7% in the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after buying an additional 967,873 shares during the period. Qube Research & Technologies Ltd grew its holdings in shares of Syndax Pharmaceuticals by 99.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock valued at $15,601,000 after buying an additional 831,067 shares during the period. Adage Capital Partners GP L.L.C. grew its holdings in shares of Syndax Pharmaceuticals by 126.8% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock valued at $13,415,000 after buying an additional 800,800 shares during the period. Stempoint Capital LP grew its holdings in shares of Syndax Pharmaceuticals by 48.4% in the 2nd quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock valued at $22,220,000 after buying an additional 774,040 shares during the period. Finally, Jump Financial LLC acquired a new position in Syndax Pharmaceuticals in the 2nd quarter worth $3,568,000.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).