Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Raised to $38.00 at UBS Group

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price objective increased by UBS Group from $35.00 to $38.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective would indicate a potential upside of 153.11% from the stock’s current price.

Several other equities research analysts have also issued reports on SNDX. Citigroup lifted their price target on shares of Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a “buy” rating in a report on Tuesday, August 5th. HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. Stifel Nicolaus began coverage on shares of Syndax Pharmaceuticals in a report on Wednesday, September 10th. They issued a “buy” rating and a $44.00 target price on the stock. Barclays raised their target price on shares of Syndax Pharmaceuticals from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, B. Riley upgraded shares of Syndax Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $36.70.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock traded up $1.25 during midday trading on Tuesday, hitting $15.01. 2,212,440 shares of the company traded hands, compared to its average volume of 2,337,161. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -3.87 and a beta of 0.68. The company has a debt-to-equity ratio of 2.06, a quick ratio of 4.55 and a current ratio of 4.71. The firm’s fifty day moving average price is $15.34 and its 200-day moving average price is $12.58. Syndax Pharmaceuticals has a 12 month low of $8.58 and a 12 month high of $22.50.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.04. The company had revenue of $45.87 million for the quarter, compared to analyst estimates of $49.08 million. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The firm’s revenue was up 266.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.98) EPS. As a group, sell-side analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

Insiders Place Their Bets

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 157,307 shares of the firm’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $16.41, for a total value of $2,581,407.87. Following the completion of the sale, the chief executive officer owned 298,661 shares of the company’s stock, valued at approximately $4,901,027.01. This trade represents a 34.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dennis Podlesak sold 19,200 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $15.84, for a total value of $304,128.00. Following the sale, the director directly owned 191,763 shares of the company’s stock, valued at $3,037,525.92. This trade represents a 9.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 195,707 shares of company stock worth $3,183,904. Insiders own 4.10% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

Large investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Syndax Pharmaceuticals during the first quarter worth approximately $25,000. Lazard Asset Management LLC acquired a new position in Syndax Pharmaceuticals during the 2nd quarter worth about $66,000. Tower Research Capital LLC TRC increased its holdings in Syndax Pharmaceuticals by 103.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after purchasing an additional 4,308 shares during the period. Prudential Financial Inc. purchased a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at about $97,000. Finally, Magnetar Financial LLC purchased a new position in Syndax Pharmaceuticals during the 1st quarter worth approximately $132,000.

About Syndax Pharmaceuticals

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).