Syndax Pharmaceuticals (NASDAQ:SNDX) Upgraded to “Hold” at Wall Street Zen

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

Other equities analysts have also issued research reports about the company. BTIG Research reaffirmed a “buy” rating and issued a $56.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. JPMorgan Chase & Co. cut their price objective on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. Barclays upped their target price on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. One research 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

Syndax Pharmaceuticals Stock Up 4.3%

Shares of NASDAQ:SNDX opened at $21.01 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 stock has a fifty day simple moving average of $20.67 and a two-hundred day simple moving average of $16.97. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $22.73. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of -5.82 and a beta of 0.46.

Insider Activity

In other news, CFO Keith A. Goldan sold 2,082 shares of the firm’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $20.62, for a total transaction of $42,930.84. Following the sale, the chief financial officer owned 143,839 shares of the company’s stock, valued at $2,965,960.18. This trade represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael A. Metzger sold 7,412 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $20.62, for a total transaction of $152,835.44. Following the completion of the sale, the chief executive officer owned 508,849 shares of the company’s stock, valued at $10,492,466.38. This represents a 1.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake 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 worth $4,637,000 after buying an additional 312,231 shares during the last quarter. 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 valued at $705,000 after acquiring an additional 3,094 shares during the last quarter. Caxton Associates LLP bought a new position in Syndax Pharmaceuticals in the first quarter valued at about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings 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 acquiring an additional 30,596 shares during the period. Finally, Aberdeen Group plc boosted its position in Syndax Pharmaceuticals by 129.1% in the second quarter. Aberdeen Group plc now owns 303,426 shares of the company’s stock worth $2,842,000 after purchasing an additional 170,993 shares during the last quarter.

About Syndax Pharmaceuticals

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.