Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Average Rating of “Moderate Buy” from Analysts

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $37.20.

A number of equities analysts have weighed in on the company. Barclays upped their price target on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. BTIG Research reissued a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. Wall Street Zen raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, 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 report on Wednesday, November 12th.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ SNDX opened at $20.75 on Thursday. 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 1-year low of $8.58 and a 1-year high of $22.73. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -5.75 and a beta of 0.46. The business has a 50-day moving average of $20.83 and a 200-day moving average of $17.91.

Insider Activity

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 17,159 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the transaction, the chief executive officer directly owned 491,690 shares of the company’s stock, valued at $10,340,240.70. This represents a 3.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Keith A. Goldan sold 3,410 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $71,712.30. Following the transaction, the chief financial officer owned 140,429 shares of the company’s stock, valued at approximately $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. In the last quarter, insiders sold 30,063 shares of company stock worth $628,332. Insiders own 4.10% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in SNDX. Larson Financial Group LLC grew its holdings in Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after acquiring an additional 1,922 shares in the last quarter. Quantbot Technologies LP acquired a new position in Syndax Pharmaceuticals in the third quarter worth about $53,000. Smartleaf Asset Management LLC grew its stake in Syndax Pharmaceuticals by 2,698.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after purchasing an additional 2,564 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Syndax Pharmaceuticals in the second quarter valued at about $66,000. Finally, Tower Research Capital LLC TRC raised its stake in Syndax Pharmaceuticals by 103.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after buying an additional 4,308 shares in 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.