Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $37.20 Consensus Target Price from Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been given a consensus recommendation of “Moderate Buy” by the twelve brokerages that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $37.90.

SNDX has been the subject of several research reports. Stifel Nicolaus set a $45.00 price objective on Syndax Pharmaceuticals in a research note on Friday, February 27th. Wall Street Zen downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Barclays raised their target price on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. JPMorgan Chase & Co. reduced their price target on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th. Finally, Citigroup raised their price objective on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CFO Keith A. Goldan sold 3,410 shares of the stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $71,712.30. Following the completion of the sale, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at approximately $2,953,221.87. This represents a 2.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael A. Metzger sold 17,159 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the transaction, the chief executive officer owned 491,690 shares in the company, valued at $10,340,240.70. This represents a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 30,063 shares of company stock valued at $628,332. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNDX. Larson Financial Group LLC grew its holdings in shares of Syndax Pharmaceuticals by 192.2% during the 3rd 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 in the last quarter. Quantbot Technologies LP bought a new stake in Syndax Pharmaceuticals in the third quarter worth approximately $53,000. Smartleaf Asset Management LLC increased its stake in shares of Syndax Pharmaceuticals by 2,698.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after purchasing an additional 2,564 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Syndax Pharmaceuticals during the 2nd quarter valued at $66,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of 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 Stock Performance

Shares of SNDX opened at $21.62 on Thursday. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.42. The firm’s 50 day moving average is $20.87 and its 200-day moving average is $18.18. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $22.73. The stock has a market capitalization of $1.91 billion, a P/E ratio of -6.57 and a beta of 0.42.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, February 26th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.14). The business had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.75 million. Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The firm’s revenue for the quarter was up 792.6% on a year-over-year basis. During the same period in the prior year, the company earned ($1.10) earnings per share. Equities research analysts anticipate that Syndax Pharmaceuticals will post -3.72 EPS 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.