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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have earned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $42.5455.

A number of research firms recently commented on SNDX. 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 reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Friday, June 12th. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a research note on Wednesday, July 15th. Mizuho reduced their target price on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Finally, Barclays raised their price target 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.

Insider Activity at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 32,375 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer owned 484,843 shares of the company’s stock, valued at approximately $11,752,594.32. This represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total transaction of $617,040.00. Following the sale, the chief marketing officer owned 60,885 shares in the company, valued at approximately $1,095,930. This trade represents a 36.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 105,914 shares of company stock worth $2,120,789 in the last three months. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in SNDX. Palumbo Wealth Management LLC acquired a new position in Syndax Pharmaceuticals in the fourth quarter valued at $1,079,000. Torray Investment Partners LLC acquired a new stake in Syndax Pharmaceuticals in the 4th quarter worth about $2,055,000. SG Americas Securities LLC boosted its stake in Syndax Pharmaceuticals by 184.5% in the 4th quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock worth $2,715,000 after buying an additional 83,801 shares during the last quarter. Eventide Asset Management LLC grew its holdings in Syndax Pharmaceuticals by 25.3% in the 4th quarter. Eventide Asset Management LLC now owns 1,238,196 shares of the company’s stock valued at $26,014,000 after buying an additional 249,710 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in Syndax Pharmaceuticals by 236.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 183,802 shares of the company’s stock valued at $3,862,000 after buying an additional 129,104 shares during the period.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX opened at $20.81 on Friday. The business’s fifty day moving average price is $20.45 and its two-hundred day moving average price is $21.45. The stock has a market cap of $1.84 billion, a PE ratio of -7.46 and a beta of 0.37. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. Syndax Pharmaceuticals has a one year low of $9.42 and a one year high of $25.59.

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