Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Rating Upgraded by Wall Street Zen

Syndax Pharmaceuticals (NASDAQ:SNDX) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

A number of other research firms have also recently issued reports on SNDX. Barclays boosted their price objective on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research report on Monday, November 24th. UBS Group raised their target price on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. Finally, JPMorgan Chase & Co. cut their price objective on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $37.20.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $21.01 on Friday. 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 has a one year low of $8.58 and a one year high of $22.73. The business’s 50 day simple moving average is $20.67 and its two-hundred day simple moving average is $16.97. The stock has a market capitalization of $1.83 billion, a P/E ratio of -5.82 and a beta of 0.46.

Insider Activity at Syndax Pharmaceuticals

In other news, CFO Keith A. Goldan sold 2,082 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $20.62, for a total value of $42,930.84. Following the completion of the transaction, the chief financial officer owned 143,839 shares in the company, valued at $2,965,960.18. This trade represents a 1.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael A. Metzger sold 7,412 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $20.62, for a total value of $152,835.44. Following the sale, the chief executive officer owned 508,849 shares in the company, valued at $10,492,466.38. This represents a 1.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in SNDX. Vanguard Group Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 21.2% during the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock valued at $130,899,000 after buying an additional 1,091,717 shares in the last quarter. Bank of America Corp DE lifted its position in Syndax Pharmaceuticals by 33.7% during the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after acquiring an additional 967,873 shares during the period. Qube Research & Technologies Ltd boosted its stake in Syndax Pharmaceuticals by 99.5% during the second quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock worth $15,601,000 after acquiring an additional 831,067 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in Syndax Pharmaceuticals by 126.8% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock worth $13,415,000 after purchasing an additional 800,800 shares during the period. Finally, Stempoint Capital LP grew its holdings in Syndax Pharmaceuticals by 48.4% in the second quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock worth $22,220,000 after purchasing an additional 774,040 shares during the period.

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.