Analysts Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Target Price at $42.30

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and ten have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $42.30.

A number of analysts have recently weighed in on SNDX shares. JPMorgan Chase & Co. reduced their target price on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. HC Wainwright lowered their price target on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, August 5th. UBS Group dropped their price objective on shares of Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, August 21st. Bank of America restated a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, August 5th. Finally, Weiss Ratings upgraded shares of Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 21st.

Syndax Pharmaceuticals Trading Down 4.5%

NASDAQ SNDX opened at $17.28 on Monday. The company has a quick ratio of 6.44, a current ratio of 6.77 and a debt-to-equity ratio of 38.95. Syndax Pharmaceuticals has a twelve month low of $12.99 and a twelve month high of $25.59. The firm has a market capitalization of $1.53 billion, a PE ratio of -6.88 and a beta of 0.37. The stock’s 50 day moving average is $20.42 and its 200 day moving average is $21.17.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10). The firm had revenue of $72.79 million during the quarter, compared to the consensus estimate of $79.36 million. Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.Syndax Pharmaceuticals’s revenue for the quarter was up 91.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.83) EPS. Research analysts forecast that Syndax Pharmaceuticals will post -2.01 earnings per share for the current fiscal year.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CEO Michael Metzger sold 32,375 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total transaction of $784,770.00. Following the completion of the transaction, the chief executive officer owned 484,843 shares of the company’s stock, valued at $11,752,594.32. This trade represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in shares of Syndax Pharmaceuticals during the second quarter valued at $197,177,000. Goldman Sachs Group Inc. boosted its stake in Syndax Pharmaceuticals by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock worth $119,660,000 after purchasing an additional 208,941 shares in the last quarter. Bank of America Corp DE purchased a new stake in Syndax Pharmaceuticals during the 2nd quarter valued at about $88,426,000. Elmind Capital LP purchased a new stake in Syndax Pharmaceuticals during the 2nd quarter valued at about $40,550,300. Finally, Eventide Asset Management LLC increased its stake in Syndax Pharmaceuticals by 25.3% during the 4th quarter. Eventide Asset Management LLC now owns 1,238,196 shares of the company’s stock valued at $26,014,000 after purchasing an additional 249,710 shares in the last quarter.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering therapies for cancer and other serious diseases. The company’s research has centered on medicines that target disease-driving biological pathways, including genetically defined forms of leukemia and immune-related conditions.

Syndax’s lead product is Revuforj (revumenib), an oral menin inhibitor approved by the U.S. Food and Drug Administration for certain adults and children with relapsed or refractory acute leukemia involving a KMT2A translocation.