Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Expected to Rise, BTIG Research Analyst Says

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price hoisted by equities research analysts at BTIG Research from $43.00 to $56.00 in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. BTIG Research’s price objective suggests a potential upside of 334.45% from the company’s current price.

A number of other research analysts have also recently commented on SNDX. Wall Street Zen raised shares of Syndax Pharmaceuticals to a “sell” rating in a research report on Tuesday, May 6th. UBS Group dropped their price target on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 15th. Guggenheim reiterated a “buy” rating and issued a $32.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. Scotiabank raised their target price on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 6th. Finally, The Goldman Sachs Group initiated coverage on Syndax Pharmaceuticals in a research report on Thursday, July 10th. They set a “buy” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.91.

Syndax Pharmaceuticals Trading Up 2.5%

Shares of SNDX opened at $12.89 on Tuesday. Syndax Pharmaceuticals has a 12 month low of $8.58 and a 12 month high of $22.50. The stock’s 50-day moving average is $10.00 and its two-hundred day moving average is $11.92. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 5.75. The stock has a market cap of $1.11 billion, a PE ratio of -3.31 and a beta of 0.74.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, August 4th. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.18. The firm had revenue of $37.96 million for the quarter, compared to analyst estimates of $26.64 million. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%. Syndax Pharmaceuticals’s revenue for the quarter was up 984.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.80) EPS. Equities analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Michael A. Metzger sold 7,534 shares of the business’s stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $9.29, for a total value of $69,990.86. Following the completion of the sale, the chief executive officer directly owned 298,661 shares in the company, valued at approximately $2,774,560.69. The trade was a 2.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of Syndax Pharmaceuticals in the 1st quarter worth about $25,000. Virtus ETF Advisers LLC raised its stake in Syndax Pharmaceuticals by 18.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock worth $70,000 after acquiring an additional 827 shares during the period. Magnetar Financial LLC bought a new position in Syndax Pharmaceuticals in the first quarter worth about $132,000. Optimize Financial Inc acquired a new position in Syndax Pharmaceuticals in the fourth quarter valued at approximately $152,000. Finally, Lazard Asset Management LLC bought a new position in shares of Syndax Pharmaceuticals during the fourth quarter valued at approximately $153,000.

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).