Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Raised to $22.00 at Barclays

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price hoisted by Barclays from $19.00 to $22.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts also recently weighed in on the company. Guggenheim began coverage on Syndax Pharmaceuticals in a research note on Thursday, September 4th. They issued a “buy” rating and a $34.00 price target for the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Syndax Pharmaceuticals in a report on Wednesday, October 8th. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. Stifel Nicolaus started coverage on shares of Syndax Pharmaceuticals in a report on Wednesday, September 10th. They issued a “buy” rating and a $44.00 price target on the stock. Finally, Citigroup boosted their price target on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.70.

Syndax Pharmaceuticals Stock Up 11.6%

SNDX stock 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 debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55. Syndax Pharmaceuticals has a 1-year low of $8.58 and a 1-year high of $22.50. The business has a fifty day moving average price of $15.33 and a 200-day moving average price of $12.61.

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

Insider Activity

In related news, CEO Michael A. Metzger sold 157,307 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $16.41, for a total value of $2,581,407.87. Following the completion of the sale, the chief executive officer directly owned 298,661 shares in the company, valued at $4,901,027.01. This trade represents a 34.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dennis Podlesak sold 19,200 shares of Syndax Pharmaceuticals stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.84, for a total transaction of $304,128.00. Following the transaction, the director directly owned 191,763 shares of the company’s stock, valued at $3,037,525.92. The trade was a 9.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 195,707 shares of company stock valued at $3,183,904. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Syndax Pharmaceuticals

A number of large investors have recently made changes to their positions in SNDX. Quarry LP purchased a new position in Syndax Pharmaceuticals during the first quarter valued at approximately $25,000. Lazard Asset Management LLC purchased a new stake in Syndax Pharmaceuticals during the second quarter worth $66,000. Tower Research Capital LLC TRC boosted its position in Syndax Pharmaceuticals by 103.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after acquiring an additional 4,308 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at $97,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at $103,000.

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).