Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX – Get Free Report) have been given an average recommendation of “Moderate Buy” by the thirteen ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $42.5455.
Several equities research analysts recently commented on SNDX shares. UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a report on Monday, March 30th. Mizuho lowered their price target on shares of Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Barclays upped their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, The Goldman Sachs Group upped their price target on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a research report on Wednesday, April 1st.
View Our Latest Report on SNDX
Syndax Pharmaceuticals Trading Up 5.3%
Syndax Pharmaceuticals (NASDAQ:SNDX – Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The firm had revenue of $64.86 million for the quarter, compared to analysts’ expectations of $69.76 million. During the same quarter in the previous year, the firm posted ($0.98) earnings per share. The company’s revenue was up 224.3% on a year-over-year basis. Equities research analysts forecast that Syndax Pharmaceuticals will post -1.65 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CMO Nicholas A.J. Botwood sold 34,280 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $18.00, for a total transaction of $617,040.00. Following the completion of the sale, the chief marketing officer owned 60,885 shares of the company’s stock, valued at $1,095,930. This trade represents a 36.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael A. Metzger sold 6,847 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $18.99, for a total transaction of $130,024.53. Following the transaction, the chief executive officer directly owned 484,843 shares in the company, valued at approximately $9,207,168.57. This represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 73,539 shares of company stock worth $1,336,019 over the last 90 days. Company insiders own 4.80% of the company’s stock.
Institutional Trading of Syndax Pharmaceuticals
Several hedge funds have recently bought and sold shares of the business. Palumbo Wealth Management LLC acquired a new position in Syndax Pharmaceuticals during the 4th quarter valued at about $1,079,000. Apis Capital Advisors LLC bought a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter worth $9,816,000. Torray Investment Partners LLC purchased a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at about $2,055,000. Vanguard Group Inc. lifted its position in shares of Syndax Pharmaceuticals by 2.1% during the third quarter. Vanguard Group Inc. now owns 5,138,617 shares of the company’s stock valued at $79,058,000 after purchasing an additional 104,683 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Syndax Pharmaceuticals by 184.5% during the fourth quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock valued at $2,715,000 after purchasing an additional 83,801 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.
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