Syndax Pharmaceuticals (NASDAQ:SNDX) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
SNDX has been the subject of several other research reports. B. Riley reiterated a “buy” rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a research note on Thursday, January 18th. BidaskClub upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Zacks Investment Research upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday. TheStreet downgraded shares of Syndax Pharmaceuticals from a “c-” rating to a “d” rating in a research note on Friday, April 13th. Finally, Morgan Stanley reduced their target price on shares of Syndax Pharmaceuticals from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company. Syndax Pharmaceuticals has a consensus rating of “Buy” and an average price target of $23.86.
Syndax Pharmaceuticals opened at $8.80 on Thursday, according to MarketBeat Ratings. Syndax Pharmaceuticals has a 52-week low of $7.70 and a 52-week high of $15.43. The stock has a market cap of $274.73 million, a P/E ratio of -3.03 and a beta of 1.36.
Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Tuesday, May 8th. The company reported ($0.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.96) by $0.17. The business had revenue of $0.38 million during the quarter. Syndax Pharmaceuticals had a negative net margin of 3,081.07% and a negative return on equity of 67.69%. analysts forecast that Syndax Pharmaceuticals will post -3.64 EPS for the current fiscal year.
In other news, insider Peter Ordentlich sold 7,500 shares of Syndax Pharmaceuticals stock in a transaction dated Tuesday, April 3rd. The shares were sold at an average price of $15.00, for a total value of $112,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 15.90% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $102,000. Paloma Partners Management Co bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $144,000. The Manufacturers Life Insurance Company boosted its position in shares of Syndax Pharmaceuticals by 266.9% in the first quarter. The Manufacturers Life Insurance Company now owns 10,566 shares of the company’s stock valued at $151,000 after acquiring an additional 7,686 shares during the period. Sofinnova Ventures Inc bought a new position in shares of Syndax Pharmaceuticals in the first quarter valued at approximately $173,000. Finally, Renaissance Technologies LLC bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter valued at approximately $225,000. Institutional investors own 67.11% of the company’s stock.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapies for various cancer indications. The company's lead product candidate is Entinostat, which is in Phase 3 clinical trial for the treatment of hormone receptor positive or HR+, human epidermal growth factor receptor 2 negative or HER2-, and breast cancer; and Phase 1b/2 clinical trial.
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