Brokerages Set Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Price Target at $36.91

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been assigned a consensus rating of “Buy” from the ten ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $38.00.

Several equities analysts recently issued reports on SNDX shares. B. Riley raised Syndax Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 6th. BTIG Research boosted their target price on shares of Syndax Pharmaceuticals from $43.00 to $56.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Scotiabank boosted their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 6th. Guggenheim reiterated a “buy” rating and set a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. Finally, UBS Group decreased their target price on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, July 15th.

Syndax Pharmaceuticals Stock Performance

Shares of SNDX opened at $14.73 on Friday. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06. The business’s 50 day moving average price is $10.27 and its 200-day moving average price is $11.88. Syndax Pharmaceuticals has a 52 week low of $8.58 and a 52 week high of $22.50. The stock has a market cap of $1.27 billion, a P/E ratio of -3.79 and a beta of 0.74.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Monday, August 4th. The company reported ($0.83) EPS for the quarter, topping analysts’ consensus estimates of ($1.01) by $0.18. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%. The firm had revenue of $37.96 million for the quarter, compared to analysts’ expectations of $26.64 million. During the same period in the previous year, the firm posted ($0.80) EPS. The business’s revenue for the quarter was up 984.5% compared to the same quarter last year. Equities research analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Activity at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 7,534 shares of the stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total value of $69,990.86. Following the completion of the transaction, the chief executive officer owned 298,661 shares of the company’s stock, valued at approximately $2,774,560.69. This trade represents a 2.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new position in shares of Syndax Pharmaceuticals during the first quarter worth approximately $25,000. Virtus ETF Advisers LLC increased its position in shares of Syndax Pharmaceuticals by 18.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company’s stock worth $70,000 after acquiring an additional 827 shares during the period. Prudential Financial Inc. purchased a new position in shares of Syndax Pharmaceuticals during the second quarter worth approximately $97,000. Raymond James Financial Inc. purchased a new position in shares of Syndax Pharmaceuticals during the second quarter worth approximately $103,000. Finally, Magnetar Financial LLC purchased a new position in shares of Syndax Pharmaceuticals during the first quarter worth approximately $132,000.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).