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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned an average recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $42.5455.

SNDX has been the subject of several recent research reports. Barclays increased their target price on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. The Goldman Sachs Group boosted their price target on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st. Jefferies Financial Group reaffirmed a “buy” rating and set a $40.00 price objective (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. UBS Group reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Finally, Mizuho lowered their target price on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CMO Nicholas A.J. Botwood sold 31,235 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.14, for a total transaction of $566,602.90. Following the completion of the sale, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at $1,104,453.90. This trade represents a 33.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael A. Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total transaction of $784,770.00. Following the completion of the transaction, the chief executive officer owned 484,843 shares in the company, valued at approximately $11,752,594.32. This trade represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 105,914 shares of company stock valued at $2,120,789. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its holdings in Syndax Pharmaceuticals by 3.2% during the 1st quarter. Hsbc Holdings PLC now owns 23,461 shares of the company’s stock valued at $556,000 after acquiring an additional 730 shares in the last quarter. Pallas Capital Advisors LLC raised its position in Syndax Pharmaceuticals by 8.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 10,985 shares of the company’s stock worth $231,000 after acquiring an additional 875 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Syndax Pharmaceuticals by 26.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock valued at $89,000 after purchasing an additional 893 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of Syndax Pharmaceuticals by 1.0% in the third quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after purchasing an additional 1,241 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in shares of Syndax Pharmaceuticals by 7.5% in the fourth quarter. Verition Fund Management LLC now owns 18,460 shares of the company’s stock valued at $388,000 after purchasing an additional 1,281 shares during the last quarter.

Syndax Pharmaceuticals Stock Down 1.9%

SNDX stock opened at $20.81 on Friday. The company has a fifty day moving average price of $20.45 and a 200 day moving average price of $21.45. Syndax Pharmaceuticals has a 12 month low of $9.42 and a 12 month high of $25.59. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -7.46 and a beta of 0.37. The company has a debt-to-equity ratio of 8.26, a current ratio of 5.47 and a quick ratio of 5.06.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.11. The company had revenue of $64.86 million for the quarter, compared to the consensus estimate of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. Syndax Pharmaceuticals’s revenue for the quarter was up 224.3% on a year-over-year basis. During the same period last year, the firm posted ($0.98) EPS. Sell-side analysts expect that Syndax Pharmaceuticals will post -1.65 earnings per share for the current year.

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.