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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have earned a consensus recommendation of “Moderate Buy” from the thirteen research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $42.5455.

SNDX has been the subject of several recent analyst reports. UBS Group restated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a report on Monday, March 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, June 24th. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Mizuho lowered their target price on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CMO Nicholas A.J. Botwood sold 31,235 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $18.14, for a total transaction of $566,602.90. Following the sale, the chief marketing officer owned 60,885 shares in the company, valued at $1,104,453.90. This trade represents a 33.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael A. Metzger sold 6,847 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $18.99, for a total value of $130,024.53. Following the sale, the chief executive officer directly owned 484,843 shares of the company’s stock, valued at approximately $9,207,168.57. This trade represents a 1.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 73,539 shares of company stock worth $1,336,019. Corporate insiders own 4.80% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds have recently bought and sold shares of SNDX. 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 valued at $4,637,000 after purchasing an additional 312,231 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 buying an additional 3,094 shares during the period. Caxton Associates LLP purchased a new position in shares of Syndax Pharmaceuticals during the 1st quarter worth approximately $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 worth $2,466,000 after purchasing an additional 30,596 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Syndax Pharmaceuticals by 4.9% in the 2nd quarter. Legal & General Group Plc now owns 84,575 shares of the company’s stock worth $792,000 after acquiring an additional 3,937 shares in the last quarter.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $21.86 on Wednesday. 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 current ratio of 5.47 and a quick ratio of 5.06. The stock has a market capitalization of $1.94 billion, a PE ratio of -7.84 and a beta of 0.38. The company’s 50 day simple moving average is $19.93 and its two-hundred day simple moving average is $21.24.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. The firm had revenue of $64.86 million during the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The business’s revenue for the quarter was up 224.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.98) EPS. Analysts predict that Syndax Pharmaceuticals will post -1.65 earnings per share 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.