Syndax Pharmaceuticals (NASDAQ:SNDX) Hits New 1-Year High – Still a Buy?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shares hit a new 52-week high during trading on Monday . The company traded as high as $23.68 and last traded at $22.95, with a volume of 550166 shares changing hands. The stock had previously closed at $22.07.

Analyst Upgrades and Downgrades

SNDX has been the subject of several research analyst reports. Citigroup lifted their price objective on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Barclays lifted their target price on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. Wall Street Zen upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.90.

Syndax Pharmaceuticals Trading Up 5.8%

The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12. The firm has a fifty day simple moving average of $20.89 and a 200-day simple moving average of $18.28. The firm has a market cap of $2.06 billion, a P/E ratio of -7.10 and a beta of 0.42.

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

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,410 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $71,712.30. Following the transaction, the chief financial officer owned 140,429 shares in the company, valued at approximately $2,953,221.87. This represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael A. Metzger sold 17,159 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $360,853.77. Following the transaction, the chief executive officer owned 491,690 shares of the company’s stock, valued at $10,340,240.70. This represents a 3.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 30,063 shares of company stock worth $628,332. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Larson Financial Group LLC grew its holdings in Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after buying an additional 1,922 shares in the last quarter. Quantbot Technologies LP bought a new position in Syndax Pharmaceuticals during the 3rd quarter valued at $53,000. Smartleaf Asset Management LLC boosted its holdings in 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 acquiring an additional 2,564 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter worth $66,000. Finally, Tower Research Capital LLC TRC grew 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 worth $79,000 after acquiring an additional 4,308 shares in the last quarter.

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.