Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Lowered to $43.00 at Mizuho

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target trimmed by Mizuho from $45.00 to $43.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts have also issued reports about the company. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Friday. Citigroup increased their price target on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Wall Street Zen raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. JPMorgan Chase & Co. boosted their price objective on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, March 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.50.

Syndax Pharmaceuticals Stock Performance

SNDX stock opened at $23.36 on Tuesday. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $25.59. The company has a quick ratio of 4.12, a current ratio of 4.40 and a debt-to-equity ratio of 5.32. The company has a market cap of $2.06 billion, a P/E ratio of -7.10 and a beta of 0.42. The business’s fifty day moving average is $21.91 and its 200-day moving average is $19.21.

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

Insider Activity

In related news, CEO Michael A. Metzger sold 17,159 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the transaction, the chief executive officer directly owned 491,690 shares in the company, valued at approximately $10,340,240.70. The trade was a 3.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Keith A. Goldan sold 3,410 shares of the stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $71,712.30. Following the sale, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at approximately $2,953,221.87. The trade was a 2.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 30,063 shares of company stock valued at $628,332 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Larson Financial Group LLC increased its position in shares of Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after acquiring an additional 1,922 shares in the last quarter. Quantbot Technologies LP bought a new stake in Syndax Pharmaceuticals in the 3rd quarter valued at $53,000. Smartleaf Asset Management LLC boosted its stake in Syndax Pharmaceuticals by 2,698.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after purchasing an additional 2,564 shares during the period. Lazard Asset Management LLC acquired a new position in Syndax Pharmaceuticals in the 2nd quarter worth $66,000. Finally, Tower Research Capital LLC TRC increased its holdings 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 worth $79,000 after purchasing an additional 4,308 shares in 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.