Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Average Rating of “Moderate Buy” by Analysts

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDXGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $42.5455.

A number of research analysts have recently issued reports on the company. Barclays boosted their price objective on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. UBS Group reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Friday, June 12th. Weiss Ratings downgraded Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a research note on Wednesday, July 15th.

Check Out Our Latest Report on SNDX

Insider Activity at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the completion of the sale, the chief executive officer owned 484,843 shares in the company, valued at $11,752,594.32. The trade was a 6.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of the business’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $18.14, for a total transaction of $566,602.90. Following the transaction, the chief marketing officer owned 60,885 shares in the company, valued at $1,104,453.90. The trade was a 33.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 105,914 shares of company stock valued at $2,120,789. Insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of SNDX. Elmind Capital LP acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter worth approximately $38,974,000. Vanguard Group Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 21.2% in the 4th quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after purchasing an additional 1,091,717 shares in the last quarter. Bank of America Corp DE grew its position in Syndax Pharmaceuticals by 33.7% in the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after purchasing an additional 967,873 shares during the period. Orbimed Advisors LLC acquired a new stake in Syndax Pharmaceuticals in the 1st quarter valued at $22,479,000. Finally, Qube Research & Technologies Ltd grew its position in Syndax Pharmaceuticals by 99.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock valued at $15,601,000 after purchasing an additional 831,067 shares during the period.

Syndax Pharmaceuticals Price Performance

SNDX stock opened at $19.05 on Friday. The company has a quick ratio of 5.06, a current ratio of 5.47 and a debt-to-equity ratio of 8.26. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -6.83 and a beta of 0.37. The company’s fifty day simple moving average is $20.43 and its 200 day simple moving average is $21.40. Syndax Pharmaceuticals has a 12-month low of $9.49 and a 12-month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDXGet Free Report) last issued its quarterly 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 return on equity of 256.65% and a negative net margin of 111.88%.The firm had revenue of $64.86 million during the quarter, compared to the consensus estimate of $69.76 million. During the same period last year, the business posted ($0.98) EPS. The business’s revenue was up 224.3% compared to the same quarter last year. On average, analysts expect that Syndax Pharmaceuticals will post -1.65 earnings per share for the current year.

About Syndax Pharmaceuticals

(Get Free Report)

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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Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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