Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $42.55 Consensus Target Price from Analysts

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

SNDX has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Friday, March 27th. UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Friday. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a research note on Friday. Wall Street Zen raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Stifel Nicolaus set a $45.00 target price on shares of Syndax Pharmaceuticals in a report on Friday, February 27th.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 6,847 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $18.99, for a total transaction of $130,024.53. Following the sale, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of the firm’s stock in a transaction that occurred on 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 directly owned 60,885 shares in the company, valued at approximately $1,104,453.90. The trade was a 33.91% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 73,539 shares of company stock worth $1,336,019. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of SNDX. Larson Financial Group LLC raised its position in Syndax Pharmaceuticals by 192.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after purchasing an additional 1,922 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Syndax Pharmaceuticals in the 3rd quarter valued at $53,000. Smartleaf Asset Management LLC raised its position in Syndax Pharmaceuticals by 2,698.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after purchasing an additional 2,564 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at $66,000. Finally, Tower Research Capital LLC TRC raised its position in Syndax Pharmaceuticals by 103.3% in the 2nd 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 last quarter.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $18.25 on Friday. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. The stock has a market cap of $1.62 billion, a P/E ratio of -6.54 and a beta of 0.38. The company has a 50-day moving average price of $21.06 and a 200 day moving average price of $21.22. Syndax Pharmaceuticals has a 12-month low of $8.59 and a 12-month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced 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. The company 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%. Syndax Pharmaceuticals’s revenue was up 224.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.98) earnings per share. Sell-side analysts anticipate that Syndax Pharmaceuticals will post -1.66 earnings per share for the current year.

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.