Syndax Pharmaceuticals (NASDAQ:SNDX) Given Buy Rating at Jefferies Financial Group

Jefferies Financial Group reiterated their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a research note released on Monday morning,Benzinga reports. Jefferies Financial Group currently has a $40.00 price objective on the stock, down from their prior price objective of $48.00.

A number of other equities research analysts have also recently weighed in on SNDX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Friday. Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. JPMorgan Chase & Co. raised their target price on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, March 9th. Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a research report on Friday, February 27th. Finally, BTIG Research reiterated a “buy” rating and set a $56.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $39.18.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock opened at $22.48 on Monday. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.12 and a current ratio of 4.40. The firm has a market cap of $1.98 billion, a P/E ratio of -6.83 and a beta of 0.42. The firm’s 50 day moving average price is $21.85 and its 200-day moving average price is $19.15. Syndax Pharmaceuticals has a one year low of $8.58 and a one year high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.14). The company had revenue of $68.73 million during the quarter, compared to analyst estimates of $64.75 million. Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The firm’s revenue for the quarter was up 792.6% on a year-over-year basis. During the same quarter last year, the business posted ($1.10) EPS. As a group, equities research analysts predict that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Insider Activity

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

Institutional Inflows and Outflows

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

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.