Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $41.91 Consensus Target Price from Brokerages

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDXGet Free Report) has been given an average rating of “Moderate Buy” by the thirteen analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and twelve have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $41.5455.

Several equities analysts have commented on SNDX shares. HC Wainwright dropped their target price on shares of Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, August 5th. JPMorgan Chase & Co. reduced their target price on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a report on Tuesday, August 11th. UBS Group decreased their price target on Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Friday. Bank of America reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. Finally, Barclays lifted their price target on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, May 1st.

Get Our Latest Stock Report on Syndax Pharmaceuticals

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, CEO Michael A. Metzger sold 32,375 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total transaction of $784,770.00. Following the completion of the sale, the chief executive officer directly owned 484,843 shares of the company’s stock, valued at $11,752,594.32. This trade represents a 6.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock in a transaction on Friday, June 12th. The stock was sold at an average price of $18.14, for a total value of $566,602.90. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over 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 Trading of Syndax Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. Allworth Financial LP purchased a new position in Syndax Pharmaceuticals in the second quarter valued at about $26,000. Smartleaf Asset Management LLC grew its position 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 valued at $55,000 after acquiring an additional 2,564 shares during the period. Larson Financial Group LLC increased its stake 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 worth $45,000 after purchasing an additional 1,922 shares during the last quarter. Nykredit A S purchased a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter worth approximately $72,000. Finally, Quantbot Technologies LP bought a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter worth approximately $53,000.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX stock opened at $19.65 on Thursday. The company has a debt-to-equity ratio of 38.95, a current ratio of 6.77 and a quick ratio of 6.44. The firm has a 50-day moving average of $20.82 and a 200-day moving average of $21.31. Syndax Pharmaceuticals has a one year low of $12.99 and a one year high of $25.59. The company has a market cap of $1.74 billion, a P/E ratio of -7.83 and a beta of 0.40.

Syndax Pharmaceuticals (NASDAQ:SNDXGet Free Report) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.The firm had revenue of $72.79 million for the quarter, compared to analysts’ expectations of $79.36 million. During the same quarter last year, the firm posted ($0.83) earnings per share. The firm’s revenue for the quarter was up 91.8% compared to the same quarter last year. Equities research analysts forecast that Syndax Pharmaceuticals will post -2.01 EPS for the current fiscal year.

Syndax Pharmaceuticals Company Profile

(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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