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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $37.20.

A number of analysts recently issued reports on SNDX shares. Barclays raised their target price on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. JPMorgan Chase & Co. dropped their price objective on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, November 12th. UBS Group increased their price objective on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. BTIG Research restated a “buy” rating and issued a $56.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th.

Insiders Place Their Bets

In other news, CEO Michael A. Metzger sold 17,159 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $21.03, for a total transaction of $360,853.77. Following the completion of the sale, the chief executive officer directly owned 491,690 shares in the company, valued at $10,340,240.70. This represents a 3.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Keith A. Goldan sold 3,410 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $71,712.30. Following the completion of the transaction, the chief financial officer owned 140,429 shares in the company, valued at $2,953,221.87. The trade was a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 30,063 shares of company stock valued at $628,332. Insiders own 4.10% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Invesco Ltd. raised its holdings in Syndax Pharmaceuticals by 20.6% in the fourth quarter. Invesco Ltd. now owns 160,525 shares of the company’s stock valued at $3,373,000 after buying an additional 27,434 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Syndax Pharmaceuticals in the fourth quarter worth $374,000. Virtus Investment Advisers LLC raised its stake in shares of Syndax Pharmaceuticals by 214.6% in the 4th quarter. Virtus Investment Advisers LLC now owns 33,549 shares of the company’s stock valued at $705,000 after acquiring an additional 22,885 shares during the period. Twinbeech Capital LP raised its stake in shares of Syndax Pharmaceuticals by 19.4% in the 4th quarter. Twinbeech Capital LP now owns 52,900 shares of the company’s stock valued at $1,111,000 after acquiring an additional 8,606 shares during the period. Finally, Sphera Funds Management LTD. lifted its holdings in shares of Syndax Pharmaceuticals by 96.7% during the 4th quarter. Sphera Funds Management LTD. now owns 762,563 shares of the company’s stock valued at $16,021,000 after acquiring an additional 374,847 shares in the last quarter.

Syndax Pharmaceuticals Trading Up 1.1%

Shares of Syndax Pharmaceuticals stock opened at $20.75 on Thursday. Syndax Pharmaceuticals has a 1 year low of $8.58 and a 1 year high of $22.73. The company has a market capitalization of $1.80 billion, a P/E ratio of -5.75 and a beta of 0.46. The business has a 50 day moving average price of $20.83 and a 200 day moving average price of $17.91. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.64 and a quick ratio of 4.42.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.