Mizuho Lowers Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target to $43.00

Syndax Pharmaceuticals (NASDAQ:SNDX) had its target price lowered by analysts at Mizuho from $45.00 to $43.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s price objective suggests a potential upside of 82.51% from the company’s current price.

SNDX has been the topic of several other reports. BTIG Research reissued a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Citigroup boosted their price target on shares of 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. raised their target price on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, March 9th. Jefferies Financial Group restated a “buy” rating and set a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.50.

Syndax Pharmaceuticals Stock Up 4.8%

Syndax Pharmaceuticals stock opened at $23.56 on Tuesday. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.12 and a current ratio of 4.40. Syndax Pharmaceuticals has a 52-week low of $8.58 and a 52-week high of $25.59. The firm has a 50 day moving average price of $21.85 and a two-hundred day moving average price of $19.15. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -7.16 and a beta of 0.42.

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

Insider Buying and Selling

In other 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 transaction, the chief executive officer owned 491,690 shares in the company, valued at approximately $10,340,240.70. The trade was a 3.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith A. Goldan sold 3,410 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $71,712.30. Following the completion of the sale, the chief financial officer directly owned 140,429 shares of the company’s stock, valued at approximately $2,953,221.87. This trade represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 30,063 shares of company stock valued at $628,332. Company insiders own 4.10% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

A number of institutional investors have recently made changes to their positions in SNDX. Elmind Capital LP bought a new position in Syndax Pharmaceuticals in the fourth quarter worth about $38,974,000. Vanguard Group Inc. raised its holdings in Syndax Pharmaceuticals by 21.2% in the fourth quarter. Vanguard Group Inc. now owns 6,230,334 shares of the company’s stock worth $130,899,000 after buying an additional 1,091,717 shares during the last quarter. Bank of America Corp DE lifted its position in Syndax Pharmaceuticals by 33.7% in the 2nd quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock valued at $35,951,000 after acquiring an additional 967,873 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of Syndax Pharmaceuticals by 99.5% during the second quarter. Qube Research & Technologies Ltd now owns 1,665,916 shares of the company’s stock valued at $15,601,000 after purchasing an additional 831,067 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Syndax Pharmaceuticals by 126.8% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock valued at $13,415,000 after buying an additional 800,800 shares during the period.

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.