Syndax Pharmaceuticals’ (SNDX) Buy Rating Reaffirmed at HC Wainwright

by · The Markets Daily

Syndax Pharmaceuticals (NASDAQ:SNDX – Get Free Report)‘s stock had its “buy” rating reissued by HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $40.00 price target on the stock. HC Wainwright’s target price would suggest a potential upside of 123.34% from the stock’s previous close.

Several other research firms have also commented on SNDX. The Goldman Sachs Group lifted their price target on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Stifel Nicolaus set a $45.00 price target on shares of Syndax Pharmaceuticals in a report on Friday, February 27th. Jefferies Financial Group reissued a “buy” rating and set a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. Citigroup boosted their target price on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Barclays boosted their target price on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $42.55.

Get Our Latest Research Report on Syndax Pharmaceuticals

Syndax Pharmaceuticals Trading Up 1.9%

NASDAQ SNDX opened at $17.91 on Friday. Syndax Pharmaceuticals has a one year low of $8.59 and a one year high of $25.59. The company has a 50-day simple moving average of $21.17 and a 200-day simple moving average of $21.24. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. The firm has a market capitalization of $1.59 billion, a PE ratio of -6.42 and a beta of 0.38.

Syndax Pharmaceuticals (NASDAQ:SNDX – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) EPS for the quarter, beating the consensus estimate of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The business had revenue of $64.86 million during the quarter, compared to analyst estimates of $69.76 million. During the same period in the previous year, the business posted ($0.98) EPS. The company’s quarterly revenue was up 224.3% on a year-over-year basis. On average, equities analysts forecast that Syndax Pharmaceuticals will post -1.66 earnings per share for the current year.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 6,847 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $18.99, for a total transaction of $130,024.53. Following the completion of the transaction, the chief executive officer directly owned 484,843 shares of the company’s stock, valued at $9,207,168.57. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.10% of the stock is owned by insiders.

Institutional Trading of Syndax Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Palumbo Wealth Management LLC acquired a new stake in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $1,079,000. Apis Capital Advisors LLC acquired a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter worth approximately $9,816,000. Torray Investment Partners LLC acquired a new stake in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $2,055,000. SG Americas Securities LLC lifted its stake in shares of Syndax Pharmaceuticals by 184.5% in the 4th quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock worth $2,715,000 after acquiring an additional 83,801 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Syndax Pharmaceuticals by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,138,617 shares of the company’s stock worth $79,058,000 after acquiring an additional 104,683 shares during the period.

Syndax Pharmaceuticals Company Profile

(Get Free Report)

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.

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