Syndax Pharmaceuticals (NASDAQ:SNDX) Sets New 1-Year Low – What’s Next?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shares hit a new 52-week low during mid-day trading on Friday. The stock traded as low as $9.12 and last traded at $9.13, with a volume of 735,068 shares traded. The stock had previously closed at $9.54.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on SNDX shares. Weiss Ratings raised shares of Syndax Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Tuesday, November 3rd. Mizuho set a $43.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, November 3rd. JPMorgan Chase & Co. cut their target price on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. HC Wainwright reduced their target price on shares of Syndax Pharmaceuticals from $38.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, November 3rd. Finally, UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Thursday, October 1st. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.60.

Syndax Pharmaceuticals Price Performance

The company has a 50 day moving average of $15.50 and a 200 day moving average of $19.79. The company has a debt-to-equity ratio of 38.95, a quick ratio of 4.37 and a current ratio of 4.69. The stock has a market capitalization of $841.78 million, a price-to-earnings ratio of -3.96 and a beta of 0.48.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Monday, November 2nd. The company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.50) by ($0.05). The company had revenue of $83.30 million during the quarter, compared to analyst estimates of $81.38 million. Syndax Pharmaceuticals had a negative net margin of 72.32% and a negative return on equity of 804.38%. Syndax Pharmaceuticals’s revenue for the quarter was up 81.9% on a year-over-year basis. During the same period in the prior year, the business earned ($0.70) EPS. As a group, equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -2.09 EPS for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, Director Dennis Podlesak sold 8,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $14.21, for a total value of $113,680.00. Following the sale, the director owned 239,763 shares of the company’s stock, valued at $3,407,032.23. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allworth Financial LP acquired a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at $26,000. Sterling Capital Management LLC grew its stake in shares of Syndax Pharmaceuticals by 846.6% during the third quarter. Sterling Capital Management LLC now owns 2,963 shares of the company’s stock worth $56,000 after purchasing an additional 2,650 shares in the last quarter. Nykredit A S purchased a new position in Syndax Pharmaceuticals in the second quarter valued at $72,000. Integrated Wealth Concepts LLC purchased a new position in Syndax Pharmaceuticals in the second quarter valued at $73,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Syndax Pharmaceuticals in the third quarter valued at $86,000.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a biotechnology company focused on developing and commercializing medicines for cancer and related serious diseases. Its research programs include therapies that target cancer-driving pathways, including menin and the colony-stimulating factor 1 receptor (CSF-1R). The company’s medicines include Revuforj (revumenib), approved in the United States for certain adults and children aged one year and older with relapsed or refractory acute leukemia involving a KMT2A translocation.