Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Raised to $34.00 at The Goldman Sachs Group

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective increased by The Goldman Sachs Group from $28.00 to $34.00 in a research note released on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently commented on SNDX. Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th. BTIG Research reiterated a “buy” rating and set a $56.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Friday, March 27th. Mizuho dropped their target price on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Stifel Nicolaus set a $45.00 price target on shares of Syndax Pharmaceuticals in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $40.33.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $23.88 on Wednesday. The stock’s fifty day moving average price is $21.98 and its two-hundred day moving average price is $19.24. Syndax Pharmaceuticals has a one year low of $8.58 and a one year high of $25.59. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12. The firm has a market cap of $2.11 billion, a PE ratio of -7.26 and a beta of 0.41.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share 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 the consensus estimate of $64.75 million. Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The business’s revenue was up 792.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.10) earnings per share. As a group, research analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insider Buying and Selling at Syndax Pharmaceuticals

In related 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith A. Goldan sold 3,410 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 140,429 shares in the company, valued at $2,953,221.87. This trade represents a 2.37% decrease in their ownership of the stock. 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. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SNDX. Larson Financial Group LLC grew its holdings in shares of Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after purchasing an additional 1,922 shares during the last quarter. Quantbot Technologies LP bought a new position in Syndax Pharmaceuticals in the 3rd quarter valued at approximately $53,000. Smartleaf Asset Management LLC boosted its position in Syndax Pharmaceuticals by 2,698.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after buying an additional 2,564 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in Syndax Pharmaceuticals in the second quarter valued at approximately $66,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of Syndax Pharmaceuticals by 103.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after buying an additional 4,308 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.