Keith Goldan Sells 1,177 Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDXGet Free Report) CFO Keith Goldan sold 1,177 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $18.99, for a total value of $22,351.23. Following the completion of the sale, the chief financial officer directly owned 139,252 shares of the company’s stock, valued at $2,644,395.48. This represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Syndax Pharmaceuticals Stock Performance

NASDAQ:SNDX remained flat at $18.85 during trading hours on Tuesday. The company’s stock had a trading volume of 1,492,655 shares, compared to its average volume of 1,387,019. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. The stock has a 50-day moving average of $22.13 and a 200 day moving average of $21.20. Syndax Pharmaceuticals, Inc. has a twelve month low of $8.59 and a twelve month high of $25.59. The firm has a market capitalization of $1.67 billion, a PE ratio of -6.76 and a beta of 0.41.

Syndax Pharmaceuticals (NASDAQ:SNDXGet Free Report) last released its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) 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 business 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) earnings per share. The business’s revenue for the quarter was up 224.3% on a year-over-year basis. On average, equities analysts expect that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Hsbc Holdings PLC lifted its stake in Syndax Pharmaceuticals by 3.2% during the first quarter. Hsbc Holdings PLC now owns 23,461 shares of the company’s stock worth $556,000 after purchasing an additional 730 shares during the last quarter. Pallas Capital Advisors LLC increased its holdings in shares of Syndax Pharmaceuticals by 8.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 10,985 shares of the company’s stock worth $231,000 after buying an additional 875 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Syndax Pharmaceuticals by 26.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after buying an additional 893 shares during the period. Schroder Investment Management Group increased its holdings in shares of Syndax Pharmaceuticals by 1.0% in the third quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock worth $1,920,000 after buying an additional 1,241 shares during the period. Finally, Verition Fund Management LLC increased its holdings in shares of Syndax Pharmaceuticals by 7.5% in the fourth quarter. Verition Fund Management LLC now owns 18,460 shares of the company’s stock worth $388,000 after buying an additional 1,281 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SNDX shares. Citigroup lifted their price target on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. UBS Group reduced their price target on Syndax Pharmaceuticals from $38.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Mizuho reduced their price target on Syndax Pharmaceuticals from $45.00 to $43.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Stifel Nicolaus set a $45.00 price target on Syndax Pharmaceuticals in a research report on Friday, February 27th. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.55.

View Our Latest Stock Analysis on Syndax Pharmaceuticals

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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