Syndax Pharmaceuticals (NASDAQ:SNDX) Given New $38.00 Price Target at UBS Group

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price raised by UBS Group from $35.00 to $38.00 in a report released on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

A number of other research analysts have also recently issued reports on SNDX. Stifel Nicolaus initiated coverage on shares of Syndax Pharmaceuticals in a report on Wednesday, September 10th. They set a “buy” rating and a $44.00 price objective for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, October 8th. The Goldman Sachs Group boosted their price target on shares of Syndax Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 5th. BTIG Research restated a “buy” rating and set a $56.00 price target on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. Finally, HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $36.70.

Syndax Pharmaceuticals Stock Up 11.6%

Shares of NASDAQ SNDX opened at $15.35 on Tuesday. The stock has a market capitalization of $1.32 billion, a P/E ratio of -3.95 and a beta of 0.68. The company has a 50-day moving average price of $15.33 and a 200-day moving average price of $12.61. Syndax Pharmaceuticals has a 1 year low of $8.58 and a 1 year high of $22.50. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55.

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

Insider Activity

In related news, CEO Michael A. Metzger sold 157,307 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $16.41, for a total transaction of $2,581,407.87. Following the transaction, the chief executive officer directly owned 298,661 shares in the company, valued at approximately $4,901,027.01. The trade was a 34.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dennis Podlesak sold 19,200 shares of the business’s stock in a transaction dated 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 owned 191,763 shares in the company, valued at approximately $3,037,525.92. The trade was a 9.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 195,707 shares of company stock worth $3,183,904. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new position in Syndax Pharmaceuticals in the first quarter valued at about $25,000. Teacher Retirement System of Texas boosted its stake in Syndax Pharmaceuticals by 11.9% in the second quarter. Teacher Retirement System of Texas now owns 23,132 shares of the company’s stock valued at $217,000 after acquiring an additional 2,458 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Syndax Pharmaceuticals by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 44,149 shares of the company’s stock valued at $413,000 after acquiring an additional 2,479 shares during the last quarter. DAFNA Capital Management LLC boosted its stake in Syndax Pharmaceuticals by 0.5% in the first quarter. DAFNA Capital Management LLC now owns 544,502 shares of the company’s stock valued at $6,689,000 after acquiring an additional 2,500 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Syndax Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock valued at $705,000 after acquiring an additional 3,094 shares during the last quarter.

About Syndax Pharmaceuticals

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).