Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $39.10 Consensus Target Price from Analysts

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) have received an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $39.10.

A number of analysts recently issued reports on the stock. BTIG Research restated a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. Wall Street Zen upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their price objective on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 9th. Finally, Stifel Nicolaus set a $45.00 price objective on Syndax Pharmaceuticals in a research report on Friday, February 27th.

Syndax Pharmaceuticals Trading Up 0.7%

Shares of SNDX stock opened at $24.20 on Monday. The company has a market capitalization of $2.13 billion, a price-to-earnings ratio of -7.36 and a beta of 0.42. 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 50-day moving average price of $21.67 and a 200 day moving average price of $18.98. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $25.59.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.14). The firm had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.75 million. Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.Syndax Pharmaceuticals’s revenue for the quarter was up 792.6% on a year-over-year basis. During the same period in the prior year, the business earned ($1.10) earnings per share. Research analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 17,159 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the sale, the chief executive officer owned 491,690 shares in the company, valued at $10,340,240.70. The trade was a 3.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Keith A. Goldan sold 3,410 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $71,712.30. Following the transaction, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at approximately $2,953,221.87. This represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 30,063 shares of company stock worth $628,332. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently bought and sold shares of SNDX. Vanguard Group Inc. raised its stake in Syndax Pharmaceuticals by 21.2% during the fourth quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after purchasing an additional 1,091,717 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 3.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 5,695,375 shares of the company’s stock valued at $119,660,000 after purchasing an additional 208,941 shares during the last quarter. State Street Corp grew its stake in shares of Syndax Pharmaceuticals by 19.3% during the 4th quarter. State Street Corp now owns 4,596,552 shares of the company’s stock valued at $96,574,000 after buying an additional 743,003 shares during the period. Bank of America Corp DE increased its holdings in shares of Syndax Pharmaceuticals by 33.7% during the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after buying an additional 967,873 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. increased its holdings in shares of Syndax Pharmaceuticals by 19.0% during the 3rd quarter. Kingdon Capital Management L.L.C. now owns 2,500,000 shares of the company’s stock worth $38,462,000 after buying an additional 400,000 shares during the last quarter.

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.