Hennion & Walsh Asset Management Inc. Increases Stock Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Hennion & Walsh Asset Management Inc. increased its stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 59.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 342,883 shares of the company’s stock after purchasing an additional 128,076 shares during the quarter. Hennion & Walsh Asset Management Inc. owned 0.39% of Syndax Pharmaceuticals worth $7,495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Torray Investment Partners LLC purchased a new stake in shares of Syndax Pharmaceuticals in the fourth quarter valued at $2,055,000. Orbimed Advisors LLC purchased a new position in shares of Syndax Pharmaceuticals during the 1st quarter worth about $22,479,000. Eventide Asset Management LLC boosted its stake in shares of Syndax Pharmaceuticals by 25.3% during the 4th quarter. Eventide Asset Management LLC now owns 1,238,196 shares of the company’s stock worth $26,014,000 after purchasing an additional 249,710 shares during the period. Voss Capital LP bought a new position in Syndax Pharmaceuticals during the 4th quarter valued at about $2,626,000. Finally, Apis Capital Advisors LLC grew its holdings in Syndax Pharmaceuticals by 13.5% during the 4th quarter. Apis Capital Advisors LLC now owns 724,000 shares of the company’s stock valued at $15,211,000 after purchasing an additional 86,000 shares during the last quarter.

Insider Activity at Syndax Pharmaceuticals

In other news, CMO Nicholas A.J. Botwood sold 31,235 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $18.14, for a total transaction of $566,602.90. Following the completion of the sale, the chief marketing officer owned 60,885 shares of the company’s stock, valued at approximately $1,104,453.90. The trade was a 33.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael A. Metzger sold 32,375 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the completion of the sale, the chief executive officer owned 484,843 shares of the company’s stock, valued at $11,752,594.32. The trade was a 6.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 105,914 shares of company stock valued at $2,120,789 in the last ninety days. Insiders own 4.80% of the company’s stock.

Syndax Pharmaceuticals Trading Up 3.2%

SNDX stock opened at $20.40 on Friday. Syndax Pharmaceuticals, Inc. has a 12 month low of $12.10 and a 12 month high of $25.59. The firm’s 50-day moving average is $20.43 and its 200 day moving average is $21.36. The company has a market capitalization of $1.81 billion, a PE ratio of -8.13 and a beta of 0.40. The company has a debt-to-equity ratio of 38.95, a current ratio of 6.77 and a quick ratio of 5.06.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.45) by ($0.10). The company had revenue of $72.79 million during the quarter, compared to analysts’ expectations of $79.36 million. Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 372.94%. Syndax Pharmaceuticals’s quarterly revenue was up 91.8% on a year-over-year basis. During the same period last year, the firm earned ($0.83) earnings per share. On average, research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -1.87 EPS for the current year.

More Syndax Pharmaceuticals News

Here are the key news stories impacting Syndax Pharmaceuticals this week:

• Positive Sentiment: HC Wainwright reaffirmed its Buy rating and $38 price objective, indicating substantial potential upside if Syndax’s pipeline and commercial outlook develop as expected. HC Wainwright Issues Pessimistic Forecast for Syndax Pharmaceuticals
• Neutral Sentiment: The analyst still projects a transition to profitability, forecasting positive EPS of $0.84 in FY2028, $2.28 in FY2029 and $3.16 in FY2030, although those estimates were reduced from previous forecasts.
• Negative Sentiment: HC Wainwright cut its FY2026 EPS forecast to a loss of $1.92 from a loss of $1.16, and lowered its Q3 and Q4 2026 estimates to losses of $0.48 and $0.40 per share, respectively.
• Negative Sentiment: The firm reduced its FY2027 EPS forecast to a loss of $0.41 from a loss of $0.13, suggesting Syndax may remain unprofitable longer than previously expected.
• Negative Sentiment: Longer-term projections were also trimmed: FY2028 EPS fell to $0.84 from $1.17, FY2029 to $2.28 from $2.59, and FY2030 to $3.16 from $3.52. The broad reductions point to more cautious expectations for the company’s earnings trajectory.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Weiss Ratings cut Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 28th. HC Wainwright cut their target price on Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday. Barclays increased their price target on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Bank of America reissued a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday. Twelve investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.36.

Syndax Pharmaceuticals Company Profile

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.