Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives $39.22 Consensus Price Target from Analysts

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) has been given an average rating of “Moderate Buy” by the eleven analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $39.2222.

Several equities research analysts have recently commented on the stock. Citigroup lifted their price objective on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, August 5th. Guggenheim started coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, September 4th. They set a “buy” rating and a $34.00 target price for the company. The Goldman Sachs Group upped their price objective on shares of Syndax Pharmaceuticals from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, September 5th. Stifel Nicolaus started coverage on shares of Syndax Pharmaceuticals in a research report on Wednesday, September 10th. They issued a “buy” rating and a $44.00 price objective for the company. Finally, UBS Group decreased their price objective on shares of Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, July 15th.

Syndax Pharmaceuticals Trading Up 1.0%

Shares of Syndax Pharmaceuticals stock opened at $15.60 on Monday. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -4.01 and a beta of 0.68. The business has a 50-day moving average price of $14.61 and a 200-day moving average price of $12.16. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06. Syndax Pharmaceuticals has a twelve month low of $8.58 and a twelve month high of $22.50.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Monday, August 4th. The company reported ($0.83) EPS for the quarter, beating analysts’ consensus estimates of ($1.01) by $0.18. The firm had revenue of $37.96 million during the quarter, compared to the consensus estimate of $26.64 million. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The firm’s revenue for the quarter was up 984.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.80) EPS. Equities research analysts anticipate that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insider Activity

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 157,307 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the sale, the chief executive officer directly owned 298,661 shares of the company’s stock, valued at approximately $4,901,027.01. This represents a 34.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Dennis Podlesak sold 19,200 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $15.84, for a total transaction of $304,128.00. Following the completion of the transaction, the director directly owned 191,763 shares in the company, valued at $3,037,525.92. This trade represents a 9.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 204,537 shares of company stock worth $3,265,935 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in SNDX. Bank of America Corp DE raised its position in Syndax Pharmaceuticals by 33.7% during the second quarter. Bank of America Corp DE now owns 3,838,872 shares of the company’s stock worth $35,951,000 after acquiring an additional 967,873 shares during the last quarter. Qube Research & Technologies Ltd grew 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 worth $15,601,000 after buying an additional 831,067 shares in the last quarter. Adage Capital Partners GP L.L.C. grew its holdings in shares of Syndax Pharmaceuticals by 126.8% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,432,440 shares of the company’s stock worth $13,415,000 after buying an additional 800,800 shares in the last quarter. Stempoint Capital LP grew its holdings in shares of Syndax Pharmaceuticals by 48.4% during the second quarter. Stempoint Capital LP now owns 2,372,634 shares of the company’s stock worth $22,220,000 after buying an additional 774,040 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in shares of Syndax Pharmaceuticals during the second quarter worth about $3,568,000.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).