Syndax Pharmaceuticals (NASDAQ:SNDX) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a sell rating to a hold rating in a research report released on Saturday morning.

A number of other research analysts also recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. B. Riley upgraded shares of Syndax Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 6th. Weiss Ratings restated a “sell (e+)” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, October 8th. Stifel Nicolaus began coverage on Syndax Pharmaceuticals in a report on Wednesday, September 10th. They set a “buy” rating and a $44.00 target price on the stock. Finally, BTIG Research reaffirmed a “buy” rating and set a $56.00 price target on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.70.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock traded up $0.35 during midday trading on Friday, hitting $15.04. 2,162,813 shares of the company were exchanged, compared to its average volume of 2,368,066. The firm has a 50 day simple moving average of $15.24 and a 200-day simple moving average of $12.66. Syndax Pharmaceuticals has a 52 week low of $8.58 and a 52 week high of $22.50. The firm has a market cap of $1.31 billion, a P/E ratio of -3.87 and a beta of 0.73. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The firm had revenue of $45.87 million during the quarter, compared to analyst estimates of $49.08 million. During the same period in the prior year, the company posted ($0.98) earnings per share. The business’s revenue for the quarter was up 266.4% compared to the same quarter last year. Research analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

Insider Activity at Syndax Pharmaceuticals

In related news, Director Dennis Podlesak sold 19,200 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.84, for a total value of $304,128.00. Following the transaction, the director owned 191,763 shares in the company, valued at approximately $3,037,525.92. This trade represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael A. Metzger sold 157,307 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $16.41, for a total transaction of $2,581,407.87. Following the transaction, the chief executive officer owned 298,661 shares of the company’s stock, valued at $4,901,027.01. This trade represents a 34.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 195,707 shares of company stock worth $3,183,904 over the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of SNDX. Vanguard Group Inc. boosted its stake in shares of Syndax Pharmaceuticals by 2.1% during the third quarter. Vanguard Group Inc. now owns 5,138,617 shares of the company’s stock valued at $79,058,000 after purchasing an additional 104,683 shares in the last quarter. Bank of America Corp DE raised its position in shares of Syndax Pharmaceuticals by 33.7% during the second quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after purchasing an additional 967,873 shares during the period. Stempoint Capital LP lifted its holdings in shares of Syndax Pharmaceuticals by 48.4% in the 2nd quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock worth $22,220,000 after purchasing an additional 774,040 shares in the last quarter. Franklin Resources Inc. increased its stake in Syndax Pharmaceuticals by 14.5% during the 2nd quarter. Franklin Resources Inc. now owns 2,359,677 shares of the company’s stock valued at $22,098,000 after purchasing an additional 298,272 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Syndax Pharmaceuticals by 1.3% during the second quarter. Geode Capital Management LLC now owns 2,049,350 shares of the company’s stock worth $19,195,000 after buying an additional 26,365 shares during the last quarter.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).