Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Raised to $37.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price lifted by research analysts at Barclays from $35.00 to $37.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 86.30% from the stock’s previous close.

Several other analysts have also recently commented on the company. The Goldman Sachs Group lifted their price target on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Jefferies Financial Group restated a “buy” rating and issued a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a report on Monday, March 30th. Citigroup lifted their price target on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Friday, March 27th. Finally, JPMorgan Chase & Co. boosted their target price on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $40.50.

Syndax Pharmaceuticals Trading Down 7.3%

SNDX traded down $1.57 during midday trading on Friday, hitting $19.86. The company’s stock had a trading volume of 1,395,956 shares, compared to its average volume of 1,398,392. The company has a current ratio of 4.40, a quick ratio of 4.12 and a debt-to-equity ratio of 5.32. The firm has a market cap of $1.75 billion, a P/E ratio of -6.04 and a beta of 0.41. The firm has a 50-day moving average price of $23.03 and a two-hundred day moving average price of $20.35. Syndax Pharmaceuticals has a 52-week low of $8.58 and a 52-week high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.11. The company had revenue of $64.86 million during the quarter, compared to analysts’ expectations of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The firm’s revenue was up 224.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.98) EPS. On average, research analysts anticipate that Syndax Pharmaceuticals will post -1.65 earnings per share for the current year.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 17,159 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the transaction, the chief executive officer directly owned 491,690 shares of the company’s stock, valued at $10,340,240.70. This represents a 3.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Keith A. Goldan sold 3,410 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $71,712.30. Following the sale, the chief financial officer directly owned 140,429 shares in the company, valued at approximately $2,953,221.87. This represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 30,063 shares of company stock worth $628,332. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several large investors have recently added to or reduced their stakes in SNDX. AQR Capital Management LLC increased its position in Syndax Pharmaceuticals by 478.8% in the first quarter. AQR Capital Management LLC now owns 377,444 shares of the company’s stock worth $4,637,000 after buying an additional 312,231 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Syndax Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock worth $705,000 after buying an additional 3,094 shares during the period. Caxton Associates LLP acquired a new stake in Syndax Pharmaceuticals in the first quarter worth $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Syndax Pharmaceuticals by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company’s stock worth $2,466,000 after buying an additional 30,596 shares during the period. Finally, Legal & General Group Plc increased its position in Syndax Pharmaceuticals by 4.9% in the second quarter. Legal & General Group Plc now owns 84,575 shares of the company’s stock worth $792,000 after buying an additional 3,937 shares during the period.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.