Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s share price dropped 5.5% during mid-day trading on Tuesday . The company traded as low as $21.71 and last traded at $22.30. Approximately 508,278 shares traded hands during mid-day trading, a decline of 9% from the average daily volume of 559,162 shares. The stock had previously closed at $23.59.
SNDX has been the topic of a number of recent research reports. BTIG Research lifted their target price on Syndax Pharmaceuticals from $26.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, December 7th. B. Riley initiated coverage on Syndax Pharmaceuticals in a research report on Thursday, February 18th. They set a “buy” rating and a $30.00 price target on the stock. Barclays lifted their target price on Syndax Pharmaceuticals from $29.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, December 7th. Smith Barney Citigroup lifted their target price on Syndax Pharmaceuticals from $23.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, December 8th. Finally, Stifel Nicolaus initiated coverage on Syndax Pharmaceuticals in a research note on Wednesday, December 2nd. They set a “buy” rating and a $32.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Syndax Pharmaceuticals presently has a consensus rating of “Buy” and a consensus price target of $26.92.
The company has a 50 day moving average of $21.92 and a 200-day moving average of $19.71. The firm has a market capitalization of $911.38 million, a P/E ratio of -11.86 and a beta of 1.80. The company has a current ratio of 11.71, a quick ratio of 11.71 and a debt-to-equity ratio of 0.15.
In related news, COO Michael A. Metzger sold 15,000 shares of the business’s stock in a transaction on Tuesday, December 1st. The stock was sold at an average price of $22.97, for a total value of $344,550.00. Following the completion of the sale, the chief operating officer now directly owns 32,659 shares in the company, valued at approximately $750,177.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 9.50% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SNDX. Prospera Financial Services Inc acquired a new position in Syndax Pharmaceuticals in the 3rd quarter valued at $30,000. First Mercantile Trust Co. acquired a new position in Syndax Pharmaceuticals in the 4th quarter valued at $44,000. Pacer Advisors Inc. acquired a new position in Syndax Pharmaceuticals in the 4th quarter valued at $56,000. BNP Paribas Arbitrage SA raised its holdings in Syndax Pharmaceuticals by 198.8% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,269 shares of the company’s stock valued at $93,000 after acquiring an additional 4,171 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in Syndax Pharmaceuticals in the 4th quarter valued at $107,000. Institutional investors and hedge funds own 83.78% of the company’s stock.
Syndax Pharmaceuticals Company Profile (NASDAQ:SNDX)
Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. The company's lead product candidates are entinostat that is in Phase III clinical trials for the treatment of advanced hormone receptor positive (HR+), human epidermal growth factor receptor 2 negative (HER2-) breast cancer; and SNDX-5613 in Phase I/II clinical trial inhibitor that targets the binding interaction of Menin with mixed lineage leukemia-rearranged and acute myeloid leukemia with a mutated nucleophosmin 1.
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