Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $42.30 Consensus Price Target from Brokerages

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have been given an average recommendation of “Moderate Buy” by the eleven brokerages that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $42.30.

Several equities research analysts have recently commented on SNDX shares. UBS Group reduced their price objective on Syndax Pharmaceuticals from $37.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, August 21st. HC Wainwright cut their price target on Syndax Pharmaceuticals from $40.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. JPMorgan Chase & Co. reduced their price target on Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Bank of America reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, August 5th. Finally, Weiss Ratings downgraded Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ SNDX opened at $17.62 on Monday. The firm has a 50 day moving average of $20.15 and a 200 day moving average of $21.11. The company has a current ratio of 6.77, a quick ratio of 6.44 and a debt-to-equity ratio of 38.95. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of -7.02 and a beta of 0.37. Syndax Pharmaceuticals has a 12-month low of $12.99 and a 12-month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.10). The business had revenue of $72.79 million during the quarter, compared to the consensus estimate of $79.36 million. Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.The firm’s revenue was up 91.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.83) earnings per share. On average, research analysts anticipate that Syndax Pharmaceuticals will post -2.01 earnings per share for the current year.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total transaction of $784,770.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Arizona State Retirement System lifted its holdings in shares of Syndax Pharmaceuticals by 2.9% in the 2nd quarter. Arizona State Retirement System now owns 23,120 shares of the company’s stock valued at $505,000 after acquiring an additional 642 shares during the last quarter. Wellington Management Group LLP raised its position in Syndax Pharmaceuticals by 0.5% during the second quarter. Wellington Management Group LLP now owns 124,241 shares of the company’s stock valued at $2,716,000 after purchasing an additional 655 shares during the period. Hsbc Holdings PLC raised its position in Syndax Pharmaceuticals by 3.2% during the first quarter. Hsbc Holdings PLC now owns 23,461 shares of the company’s stock valued at $556,000 after purchasing an additional 730 shares during the period. Allworth Financial LP bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at approximately $26,000. Finally, ProShare Advisors LLC lifted its stake in shares of Syndax Pharmaceuticals by 9.9% in the 4th quarter. ProShare Advisors LLC now owns 19,388 shares of the company’s stock valued at $407,000 after purchasing an additional 1,749 shares during the last quarter.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc is a commercial-stage biopharmaceutical company focused on developing and delivering therapies for cancer and other serious diseases. The company’s research has centered on medicines that target disease-driving biological pathways, including genetically defined forms of leukemia and immune-related conditions.

Syndax’s lead product is Revuforj (revumenib), an oral menin inhibitor approved by the U.S. Food and Drug Administration for certain adults and children with relapsed or refractory acute leukemia involving a KMT2A translocation.