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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has received an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $38.00.

SNDX has been the topic of several recent analyst reports. UBS Group dropped their target price on Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 15th. Guggenheim started coverage on Syndax Pharmaceuticals in a report on Thursday, September 4th. They issued a “buy” rating and a $34.00 price target on the stock. Citigroup upped their price target on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. Stifel Nicolaus started coverage on Syndax Pharmaceuticals in a report on Wednesday, September 10th. They issued a “buy” rating and a $44.00 price target on the stock. Finally, The Goldman Sachs Group upped their price target 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 at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, Director Dennis Podlesak sold 19,200 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $15.84, for a total value of $304,128.00. Following the transaction, the director owned 191,763 shares of the company’s stock, valued at approximately $3,037,525.92. This represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $2,581,407.87. Following 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 195,707 shares of company stock worth $3,183,904 in the last ninety days. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Syndax Pharmaceuticals

Large investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in Syndax Pharmaceuticals during the 1st quarter valued at $25,000. Lazard Asset Management LLC acquired a new stake in Syndax Pharmaceuticals during the 2nd quarter valued at $66,000. Tower Research Capital LLC TRC raised its stake in Syndax Pharmaceuticals by 103.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after purchasing an additional 4,308 shares during the period. Prudential Financial Inc. acquired a new stake in Syndax Pharmaceuticals during the 2nd quarter valued at $97,000. Finally, Magnetar Financial LLC acquired a new stake in Syndax Pharmaceuticals during the 1st quarter valued at $132,000.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX opened at $13.51 on Friday. Syndax Pharmaceuticals has a 12 month low of $8.58 and a 12 month high of $22.50. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -3.47 and a beta of 0.68. The stock’s 50 day moving average price is $15.52 and its 200 day moving average price is $12.51. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced 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. 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 quarter in the previous year, the company earned ($0.80) earnings per share. The firm’s quarterly revenue 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.

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).