Syndax Pharmaceuticals’ (SNDX) Buy Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Syndax Pharmaceuticals (NASDAQ:SNDX) in a report issued on Monday, Marketbeat reports. Jefferies Financial Group currently has a $40.00 price target on the stock, down from their previous price target of $48.00.

Several other research analysts also recently commented on the company. Citigroup raised their price objective on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. upped their target price on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, March 9th. Wall Street Zen raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Sunday, March 8th. BTIG Research restated a “buy” rating and set a $56.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $40.33.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock opened at $23.88 on Monday. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -7.26 and a beta of 0.41. The firm has a 50-day moving average of $21.98 and a two-hundred day moving average of $19.24. Syndax Pharmaceuticals has a 1 year low of $8.58 and a 1 year high of $25.59.

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

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, CFO Keith A. Goldan sold 3,410 shares of the business’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $71,712.30. Following the completion of the transaction, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at approximately $2,953,221.87. The trade was a 2.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michael A. Metzger sold 17,159 shares of the company’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $360,853.77. Following the sale, the chief executive officer owned 491,690 shares of the company’s stock, valued at $10,340,240.70. This trade represents a 3.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 30,063 shares of company stock worth $628,332 in the last ninety days. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sector Gamma AS purchased a new position in shares of Syndax Pharmaceuticals in the 3rd quarter worth approximately $3,243,000. Apis Capital Advisors LLC bought a new position in shares of Syndax Pharmaceuticals during the 3rd quarter worth approximately $9,816,000. Schroder Investment Management Group lifted its position in Syndax Pharmaceuticals by 112.2% during the second quarter. Schroder Investment Management Group now owns 122,163 shares of the company’s stock valued at $1,144,000 after acquiring an additional 64,598 shares during the last quarter. Keybank National Association OH acquired a new stake in Syndax Pharmaceuticals in the third quarter valued at approximately $2,305,000. Finally, Candriam S.C.A. boosted its stake in Syndax Pharmaceuticals by 37.1% in the third quarter. Candriam S.C.A. now owns 925,332 shares of the company’s stock valued at $14,236,000 after acquiring an additional 250,247 shares in the last quarter.

About Syndax Pharmaceuticals

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.