Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Given Consensus Rating of "Buy" by Analysts

Key Points

• Syndax Pharmaceuticals has received a consensus recommendation of "Buy" from twelve research firms, with an average 12-month price target of $36.91.
• The company reported a 984.5% year-over-year revenue increase of $37.96 million, beating analyst expectations significantly.
• CEO Michael A. Metzger sold 7,534 shares of the company’s stock, reducing his ownership by 2.46%, while 4.10% of the stock is currently held by corporate insiders.

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) has received a consensus rating of "Buy" from the twelve analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, ten have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $36.9091.

SNDX has been the subject of several recent research reports. Citigroup lifted their target price 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. Scotiabank lifted their target price on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 6th. UBS Group cut their target price 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. B. Riley upgraded shares of Syndax Pharmaceuticals to a "strong-buy" rating in a research note on Wednesday, August 6th. Finally, Wall Street Zen upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 7,534 shares of the business's stock in a transaction on Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total value of $69,990.86. Following the sale, the chief executive officer owned 298,661 shares in the company, valued at $2,774,560.69. The trade was a 2.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Syndax Pharmaceuticals

Large investors have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Syndax Pharmaceuticals in the 1st quarter worth about $25,000. Virtus ETF Advisers LLC increased its holdings in shares of Syndax Pharmaceuticals by 18.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock worth $70,000 after buying an additional 827 shares during the last quarter. Prudential Financial Inc. bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter worth about $97,000. Magnetar Financial LLC bought a new stake in shares of Syndax Pharmaceuticals in the 1st quarter worth about $132,000. Finally, Optimize Financial Inc bought a new stake in shares of Syndax Pharmaceuticals in the 4th quarter worth about $152,000.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX traded up $0.82 during trading hours on Friday, hitting $14.27. The stock had a trading volume of 877,164 shares, compared to its average volume of 2,226,661. The company has a 50 day simple moving average of $10.20 and a two-hundred day simple moving average of $11.88. The company has a debt-to-equity ratio of 2.06, a current ratio of 4.71 and a quick ratio of 4.55. Syndax Pharmaceuticals has a one year low of $8.58 and a one year high of $22.50. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.65 and a beta of 0.74.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The company reported ($0.83) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.01) by $0.18. Syndax Pharmaceuticals had a negative net margin of 428.48% and a negative return on equity of 130.47%. The company had revenue of $37.96 million during the quarter, compared to the consensus estimate of $26.64 million. During the same period in the previous year, the firm posted ($0.80) EPS. The firm's revenue was up 984.5% compared to the same quarter last year. Research analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current fiscal year.

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).