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

Syndax Pharmaceuticals (NASDAQ:SNDX) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

SNDX has been the subject of a number of other reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday. The Goldman Sachs Group boosted their target price on shares of Syndax Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, September 5th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. Guggenheim started coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, September 4th. They issued a “buy” rating and a $34.00 price objective for the company. Finally, UBS Group lifted their target price on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.20.

Syndax Pharmaceuticals Price Performance

SNDX opened at $20.32 on Friday. The company has a current ratio of 4.64, a quick ratio of 4.42 and a debt-to-equity ratio of 2.78. The company has a fifty day simple moving average of $16.30 and a 200 day simple moving average of $13.57. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -5.63 and a beta of 0.48. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $20.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.04. The firm had revenue of $45.87 million for the quarter, compared to the consensus estimate of $49.08 million. Syndax Pharmaceuticals had a negative net margin of 279.31% and a negative return on equity of 160.60%. The firm’s revenue was up 266.4% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.98) EPS. Equities research analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Michael A. Metzger sold 157,307 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $16.41, for a total value of $2,581,407.87. Following the completion of the sale, the chief executive officer directly owned 298,661 shares in the company, valued at approximately $4,901,027.01. This trade represents a 34.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Phoenix Financial Ltd. acquired a new position in Syndax Pharmaceuticals during the 2nd quarter worth approximately $701,000. Exome Asset Management LLC lifted its stake in shares of Syndax Pharmaceuticals by 5.7% in the first quarter. Exome Asset Management LLC now owns 337,198 shares of the company’s stock worth $4,142,000 after acquiring an additional 18,298 shares during the period. Deutsche Bank AG boosted its holdings in Syndax Pharmaceuticals by 127.7% in the first quarter. Deutsche Bank AG now owns 204,732 shares of the company’s stock valued at $2,516,000 after acquiring an additional 114,828 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Syndax Pharmaceuticals by 14.5% in the second quarter. Franklin Resources Inc. now owns 2,359,677 shares of the company’s stock valued at $22,098,000 after acquiring an additional 298,272 shares during the last quarter. Finally, Aberdeen Group plc increased its position in Syndax Pharmaceuticals by 129.1% during the 2nd quarter. Aberdeen Group plc now owns 303,426 shares of the company’s stock valued at $2,842,000 after purchasing an additional 170,993 shares during the period.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).