Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Average Rating of “Moderate Buy” by Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, nine have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $39.10.

A number of analysts have weighed in on the company. Citigroup raised their price target on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. upped their price objective on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, March 9th. Stifel Nicolaus set a $45.00 price objective on Syndax Pharmaceuticals in a report on Friday, February 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th. Finally, Wall Street Zen upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Sunday, March 8th.

Syndax Pharmaceuticals Trading Up 1.0%

NASDAQ SNDX opened at $24.23 on Monday. Syndax Pharmaceuticals has a 52 week low of $8.58 and a 52 week high of $25.44. The firm has a 50 day moving average of $21.47 and a two-hundred day moving average of $18.84. 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 stock has a market capitalization of $2.14 billion, a PE ratio of -7.36 and a beta of 0.42.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data 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 firm 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%. Syndax Pharmaceuticals’s revenue for the quarter was up 792.6% compared to the same quarter last year. During the same quarter in the previous year, the business 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 Activity at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 17,159 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were 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 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 filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith A. Goldan sold 3,410 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $71,712.30. Following the completion of the transaction, 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. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,063 shares of company stock valued at $628,332 in the last 90 days. Insiders own 4.10% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of Syndax Pharmaceuticals by 478.8% in the 1st quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock valued at $4,637,000 after purchasing an additional 312,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Syndax Pharmaceuticals by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock worth $705,000 after buying an additional 3,094 shares during the period. Caxton Associates LLP acquired a new position in Syndax Pharmaceuticals during the first quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Syndax Pharmaceuticals by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company’s stock valued at $2,466,000 after buying an additional 30,596 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Syndax Pharmaceuticals by 1.3% in the second quarter. Geode Capital Management LLC now owns 2,049,350 shares of the company’s stock valued at $19,195,000 after buying an additional 26,365 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.