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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received an average recommendation of “Moderate Buy” from the twelve analysts that are covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, one has given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $39.10.

A number of brokerages have recently commented on SNDX. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Friday. Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a report on Friday, February 27th. BTIG Research reaffirmed a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. JPMorgan Chase & Co. upped their target price on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, March 9th. Finally, Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th.

Insider Activity

In related news, CFO Keith A. Goldan sold 3,410 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $71,712.30. Following the completion of the sale, the chief financial officer owned 140,429 shares in the company, valued at approximately $2,953,221.87. This represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael A. Metzger sold 17,159 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total transaction of $360,853.77. Following the completion of the transaction, the chief executive officer directly owned 491,690 shares of the company’s stock, valued at $10,340,240.70. This represents a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 30,063 shares of company stock valued at $628,332. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in shares of Syndax Pharmaceuticals by 2,698.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after buying an additional 2,564 shares during the period. Larson Financial Group LLC raised its position in Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after buying an additional 1,922 shares during the period. Quantbot Technologies LP purchased a new stake in Syndax Pharmaceuticals in the 3rd quarter worth about $53,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Syndax Pharmaceuticals by 26.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after acquiring an additional 893 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Syndax Pharmaceuticals during the 2nd quarter worth about $66,000.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX opened at $23.49 on Monday. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12. The firm’s 50 day moving average is $21.81 and its 200-day moving average is $19.11. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $25.59. The stock has a market capitalization of $2.07 billion, a P/E ratio of -7.14 and a beta of 0.42.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, February 26th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.14). The business had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.75 million. Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The firm’s revenue for the quarter was up 792.6% on a year-over-year basis. During the same period in the prior year, the company earned ($1.10) earnings per share. Equities research analysts anticipate that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal 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.