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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received a consensus rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $37.20.

Several equities analysts have issued reports on SNDX shares. Citigroup upped their price target on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, August 5th. UBS Group raised their target price on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. The Goldman Sachs Group increased their price target on Syndax Pharmaceuticals from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, September 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, November 19th. Finally, Stifel Nicolaus assumed coverage on shares of Syndax Pharmaceuticals in a research report on Wednesday, September 10th. They issued a “buy” rating and a $44.00 price target on the stock.

Syndax Pharmaceuticals Price Performance

Shares of SNDX opened at $19.76 on Tuesday. 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 stock has a market cap of $1.72 billion, a PE ratio of -5.08 and a beta of 0.73. Syndax Pharmaceuticals has a 12-month low of $8.58 and a 12-month high of $19.98. The business has a 50-day simple moving average of $15.47 and a two-hundred day simple moving average of $13.00.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.04. The company had revenue of $45.87 million for the quarter, compared to analysts’ expectations of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The business’s quarterly revenue was up 266.4% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.98) earnings per share. Analysts anticipate that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 157,307 shares of the stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $16.41, for a total transaction of $2,581,407.87. Following the completion of the sale, the chief executive officer directly owned 298,661 shares in the company, valued at approximately $4,901,027.01. This trade represents a 34.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in SNDX. Schroder Investment Management Group grew its stake in Syndax Pharmaceuticals by 1.0% in the third quarter. Schroder Investment Management Group now owns 123,404 shares of the company’s stock valued at $1,920,000 after acquiring an additional 1,241 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Syndax Pharmaceuticals by 192.2% in 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 in the last quarter. Quarry LP acquired a new stake in Syndax Pharmaceuticals in the 1st quarter valued at $25,000. Teacher Retirement System of Texas increased its stake in Syndax Pharmaceuticals by 11.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 23,132 shares of the company’s stock valued at $217,000 after purchasing an additional 2,458 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Syndax Pharmaceuticals by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 44,149 shares of the company’s stock valued at $413,000 after buying an additional 2,479 shares in the last quarter.

About Syndax Pharmaceuticals

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).