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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received a consensus rating of “Moderate Buy” from the thirteen research firms that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $42.5455.

SNDX has been the topic of a number of research analyst reports. The Goldman Sachs Group increased their target price on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Wednesday. Mizuho reduced their target price on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a report on Tuesday, March 31st. Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a report on Friday, February 27th. Finally, Citigroup increased their target price on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, March 2nd.

Syndax Pharmaceuticals Price Performance

SNDX opened at $17.34 on Friday. The company has a 50-day moving average of $21.65 and a 200-day moving average of $21.20. The company has a market capitalization of $1.54 billion, a P/E ratio of -6.22 and a beta of 0.38. Syndax Pharmaceuticals has a 1-year low of $8.59 and a 1-year high of $25.59. 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 (NASDAQ:SNDX) last released its 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 net margin of 111.88% and a negative return on equity of 256.65%. The company had revenue of $64.86 million during the quarter, compared to the consensus estimate of $69.76 million. During the same quarter in the previous year, the firm earned ($0.98) EPS. The company’s revenue was up 224.3% on a year-over-year basis. Equities analysts expect that Syndax Pharmaceuticals will post -1.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 6,847 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $18.99, for a total transaction of $130,024.53. Following the transaction, the chief executive officer owned 484,843 shares of the company’s stock, valued at $9,207,168.57. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Syndax Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the stock. Palumbo Wealth Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $1,079,000. Apis Capital Advisors LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter worth approximately $9,816,000. Torray Investment Partners LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $2,055,000. SG Americas Securities LLC raised its position in shares of Syndax Pharmaceuticals by 184.5% during the 4th quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock worth $2,715,000 after purchasing an additional 83,801 shares during the period. Finally, Candriam S.C.A. raised its position in shares of Syndax Pharmaceuticals by 37.1% during the 3rd quarter. Candriam S.C.A. now owns 925,332 shares of the company’s stock worth $14,236,000 after purchasing an additional 250,247 shares during the period.

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.