Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts give Syndax a consensus rating of Moderate Buy from 14 firms (11 buy, 1 strong buy, 1 hold, 1 sell) with an average 1‑year price target of $40.33 and recent target upgrades from Citi, Goldman Sachs and JPMorgan.
• Insiders have been net sellers recently: CEO Michael A. Metzger and CFO Keith A. Goldan sold shares on Feb. 9, and insiders sold a total of 30,063 shares (~$628,332) in the last three months while still owning 4.10% of the company.
• In the latest quarter revenue jumped 792.6% YoY to $68.7M but the company missed EPS (reported ($0.78) vs. ($0.64) expected), leaving Syndax unprofitable despite a market cap around $2.1B and a recent share price near $23.81.

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the fourteen ratings firms that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, eleven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $40.3333.

A number of equities analysts have recently commented on SNDX shares. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Citigroup raised their target price on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. The Goldman Sachs Group lifted their target price on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a "buy" rating in a report on Wednesday, April 1st. Jefferies Financial Group reissued a "buy" rating and issued a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. Finally, JPMorgan Chase & Co. raised their price objective on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, March 9th.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 17,159 shares of the firm's stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $360,853.77. Following the completion of the transaction, the chief executive officer owned 491,690 shares in the company, valued at approximately $10,340,240.70. This trade represents a 3.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith A. Goldan sold 3,410 shares of the business's stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $21.03, for a total transaction of $71,712.30. Following the completion of the transaction, the chief financial officer owned 140,429 shares in the company, valued at $2,953,221.87. This trade represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 30,063 shares of company stock valued at $628,332 in the last three months. Insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of SNDX. AQR Capital Management LLC boosted its position in Syndax Pharmaceuticals by 478.8% during the first quarter. AQR Capital Management LLC now owns 377,444 shares of the company's stock valued at $4,637,000 after acquiring an additional 312,231 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Syndax Pharmaceuticals by 5.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company's stock worth $705,000 after acquiring an additional 3,094 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Syndax Pharmaceuticals in the 1st quarter worth about $257,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Syndax Pharmaceuticals by 18.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company's stock valued at $2,466,000 after purchasing an additional 30,596 shares during the period. Finally, Legal & General Group Plc boosted its position in shares of Syndax Pharmaceuticals by 4.9% during the 2nd quarter. Legal & General Group Plc now owns 84,575 shares of the company's stock valued at $792,000 after purchasing an additional 3,937 shares in the last quarter.

Syndax Pharmaceuticals Stock Down 2.1%

Shares of NASDAQ SNDX opened at $23.81 on Friday. The company has a 50 day simple moving average of $22.81 and a 200 day simple moving average of $19.93. The company has a debt-to-equity ratio of 5.32, a current ratio of 4.40 and a quick ratio of 4.12. Syndax Pharmaceuticals has a 1 year low of $8.58 and a 1 year high of $25.59. The firm has a market cap of $2.10 billion, a PE ratio of -7.24 and a beta of 0.41.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.64) by ($0.14). The business had revenue of $68.73 million for the quarter, compared to the consensus estimate of $64.75 million. Syndax Pharmaceuticals had a negative return on equity of 206.62% and a negative net margin of 165.37%.The company's revenue was up 792.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.10) earnings per share. On average, research analysts forecast that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.