Syndax Pharmaceuticals (NASDAQ:SNDX) Hits New 52-Week High – What’s Next?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price reached a new 52-week high on Friday . The stock traded as high as $25.44 and last traded at $25.07, with a volume of 453951 shares traded. The stock had previously closed at $24.00.

Analyst Ratings Changes

SNDX has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 9th. Citigroup lifted their price objective on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th. Stifel Nicolaus set a $45.00 target price on shares of Syndax Pharmaceuticals in a research note on Friday, February 27th. Finally, 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 research report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.10.

Syndax Pharmaceuticals Price Performance

The firm has a fifty day moving average of $21.41 and a two-hundred day moving average of $18.74. The stock has a market capitalization of $2.17 billion, a P/E ratio of -7.49 and a beta of 0.42. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $68.73 million for the quarter, compared to the consensus estimate of $64.75 million. During the same quarter in the previous year, the company earned ($1.10) earnings per share. The firm’s revenue was up 792.6% on a year-over-year basis. On average, analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current year.

Insider Buying and Selling

In related news, CFO Keith A. Goldan sold 3,410 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $21.03, for a total transaction of $71,712.30. Following the sale, the chief financial officer owned 140,429 shares of the company’s stock, valued at $2,953,221.87. This trade represents a 2.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael A. Metzger sold 17,159 shares of the firm’s 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 30,063 shares of company stock worth $628,332. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC lifted its holdings in shares of 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 buying an additional 1,922 shares during the period. Quantbot Technologies LP purchased a new position in Syndax Pharmaceuticals during the third quarter valued at approximately $53,000. Smartleaf Asset Management LLC lifted its holdings in Syndax Pharmaceuticals by 2,698.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after acquiring an additional 2,564 shares during the period. Lazard Asset Management LLC acquired a new position in Syndax Pharmaceuticals in the second quarter valued at approximately $66,000. Finally, Tower Research Capital LLC TRC boosted 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 worth $79,000 after purchasing 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.