Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have earned a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $35.90.

Several research analysts have recently issued reports on SNDX shares. The Goldman Sachs Group boosted their price objective 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. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. UBS Group boosted their price target on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Citigroup raised their price objective on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus began coverage on Syndax Pharmaceuticals in a report on Wednesday, September 10th. They set a “buy” rating and a $44.00 price objective on the stock.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ SNDX opened at $17.18 on Tuesday. Syndax Pharmaceuticals has a 12 month low of $8.58 and a 12 month high of $18.00. The company has a market cap of $1.49 billion, a P/E ratio of -4.42 and a beta of 0.73. The business’s 50 day moving average is $15.29 and its two-hundred day moving average is $12.79. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06.

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

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 157,307 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the sale, the chief executive officer owned 298,661 shares of the company’s stock, valued at $4,901,027.01. The trade was a 34.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors have recently made changes to their positions in SNDX. Bank of New York Mellon Corp boosted its position in Syndax Pharmaceuticals by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 229,758 shares of the company’s stock valued at $2,823,000 after buying an additional 5,497 shares in the last quarter. Cerity Partners LLC acquired a new stake in shares of Syndax Pharmaceuticals during the first quarter worth approximately $295,000. CWM LLC raised its stake in shares of Syndax Pharmaceuticals by 795.2% in the first quarter. CWM LLC now owns 23,374 shares of the company’s stock valued at $287,000 after acquiring an additional 20,763 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Syndax Pharmaceuticals in the 1st quarter worth approximately $179,000. Finally, GSA Capital Partners LLP boosted its holdings in shares of Syndax Pharmaceuticals by 136.8% in the 1st quarter. GSA Capital Partners LLP now owns 87,284 shares of the company’s stock worth $1,072,000 after acquiring an additional 50,427 shares in 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).