Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have earned an average rating of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $42.5455.

SNDX has been the subject of several research reports. Weiss Ratings cut shares of Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Barclays raised their target price on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a research report on Wednesday, July 15th. Finally, UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Friday, June 12th.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total value of $784,770.00. Following the transaction, the chief executive officer owned 484,843 shares of the company’s stock, valued at approximately $11,752,594.32. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $18.00, for a total value of $617,040.00. Following the completion of the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at $1,095,930. The trade was a 36.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 105,914 shares of company stock worth $2,120,789. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of large investors have recently made changes to their positions in SNDX. Palumbo Wealth Management LLC bought a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $1,079,000. Torray Investment Partners LLC bought a new stake in Syndax Pharmaceuticals during the fourth quarter valued at approximately $2,055,000. SG Americas Securities LLC grew its position in Syndax Pharmaceuticals by 184.5% during the fourth quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock valued at $2,715,000 after buying an additional 83,801 shares during the period. Eventide Asset Management LLC increased its holdings in Syndax Pharmaceuticals by 25.3% during the fourth quarter. Eventide Asset Management LLC now owns 1,238,196 shares of the company’s stock valued at $26,014,000 after buying an additional 249,710 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in Syndax Pharmaceuticals by 236.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 183,802 shares of the company’s stock valued at $3,862,000 after buying an additional 129,104 shares during the last quarter.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX opened at $19.48 on Friday. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of -6.98 and a beta of 0.37. The business has a 50-day simple moving average of $20.45 and a two-hundred day simple moving average of $21.42. Syndax Pharmaceuticals has a fifty-two week low of $9.49 and a fifty-two week high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The firm had revenue of $64.86 million for the quarter, compared to the consensus estimate of $69.76 million. During the same quarter last year, the firm posted ($0.98) EPS. The business’s quarterly revenue was up 224.3% compared to the same quarter last year. On average, analysts expect that Syndax Pharmaceuticals will post -1.65 earnings per share for the current year.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.