Syndax Pharmaceuticals (NASDAQ:SNDX) Rating Lowered to “Sell” at Wall Street Zen

Syndax Pharmaceuticals (NASDAQ:SNDX) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

A number of other analysts also recently weighed in on the stock. UBS Group upped their price target on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. cut their target price on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, November 12th. Barclays lifted their price target on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. BTIG Research restated a “buy” rating and set a $56.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $37.20.

Syndax Pharmaceuticals Trading Down 1.3%

Shares of NASDAQ:SNDX opened at $20.72 on Friday. The company has a market capitalization of $1.80 billion, a P/E ratio of -5.74 and a beta of 0.48. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.64 and a quick ratio of 4.42. The business’s 50 day simple moving average is $19.36 and its 200 day simple moving average is $15.55. Syndax Pharmaceuticals has a 1 year low of $8.58 and a 1 year high of $22.73.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Monday, November 3rd. The company reported ($0.70) EPS for the quarter, topping analysts’ consensus estimates of ($0.74) by $0.04. The company had revenue of $45.87 million for the quarter, compared to analysts’ expectations of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.Syndax Pharmaceuticals’s revenue was up 266.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.98) earnings per share. On average, research analysts anticipate that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC raised its stake in shares of Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after acquiring an additional 1,922 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Syndax Pharmaceuticals in the third quarter worth $53,000. Lazard Asset Management LLC acquired a new stake in Syndax Pharmaceuticals in the second quarter valued at $66,000. Tower Research Capital LLC TRC increased its holdings in Syndax Pharmaceuticals by 103.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after purchasing an additional 4,308 shares during the period. Finally, Prudential Financial Inc. bought a new position in Syndax Pharmaceuticals during the 2nd quarter worth $97,000.

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.