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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has earned a consensus rating of “Moderate Buy” from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, eight have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $39.2222.

A number of equities analysts have recently commented on SNDX shares. BTIG Research reissued a “buy” rating and set a $56.00 price objective on shares of Syndax Pharmaceuticals in a research report on Friday, September 19th. UBS Group lowered their price target on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, July 15th. Stifel Nicolaus started coverage on shares of Syndax Pharmaceuticals in a report on Wednesday, September 10th. They issued a “buy” rating and a $44.00 price objective on the stock. B. Riley raised shares of Syndax Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, August 6th. Finally, The Goldman Sachs Group increased their target price on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a report on Friday, September 5th.

Insider Buying and Selling

In related news, CEO Michael A. Metzger sold 157,307 shares of the business’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the completion of the sale, the chief executive officer directly owned 298,661 shares of the company’s stock, valued at $4,901,027.01. The trade was a 34.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis Podlesak sold 19,200 shares of the company’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.84, for a total transaction of $304,128.00. Following the completion of the transaction, the director owned 191,763 shares of the company’s stock, valued at $3,037,525.92. This represents a 9.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 204,537 shares of company stock worth $3,265,935. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Syndax Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE grew its stake in Syndax Pharmaceuticals by 33.7% during the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after buying an additional 967,873 shares during the last quarter. Qube Research & Technologies Ltd boosted its holdings in shares of Syndax Pharmaceuticals by 99.5% in the second quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock valued at $15,601,000 after acquiring an additional 831,067 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of Syndax Pharmaceuticals by 126.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock worth $13,415,000 after acquiring an additional 800,800 shares during the last quarter. Stempoint Capital LP increased its holdings in shares of Syndax Pharmaceuticals by 48.4% in the 2nd quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock valued at $22,220,000 after acquiring an additional 774,040 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at $3,568,000.

Syndax Pharmaceuticals Stock Up 1.0%

Syndax Pharmaceuticals stock opened at $15.60 on Monday. The firm has a market capitalization of $1.34 billion, a P/E ratio of -4.01 and a beta of 0.68. The company has a current ratio of 4.71, a quick ratio of 4.55 and a debt-to-equity ratio of 2.06. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $22.50. The stock’s fifty day simple moving average is $14.61 and its 200-day simple moving average is $12.18.

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

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).