Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Cut to $35.00 by Analysts at UBS Group

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) had its price objective reduced by UBS Group from $37.00 to $35.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. UBS Group's price objective points to a potential upside of 269.98% from the stock's previous close.

Several other research firms also recently weighed in on SNDX. Scotiabank increased their target price on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a research report on Tuesday, May 6th. JPMorgan Chase & Co. raised their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Wall Street Zen raised Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. The Goldman Sachs Group assumed coverage on Syndax Pharmaceuticals in a research report on Thursday, July 10th. They set a "buy" rating and a $18.00 price target on the stock. Finally, Guggenheim restated a "buy" rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Syndax Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average price target of $34.10.

Syndax Pharmaceuticals Stock Down 2.2%

SNDX stock traded down $0.21 during trading on Tuesday, hitting $9.46. 1,900,856 shares of the company's stock were exchanged, compared to its average volume of 1,863,707. The company has a current ratio of 5.80, a quick ratio of 5.75 and a debt-to-equity ratio of 1.53. Syndax Pharmaceuticals has a 52-week low of $8.58 and a 52-week high of $25.07. The business has a 50-day moving average price of $9.88 and a two-hundred day moving average price of $12.18. The stock has a market capitalization of $814.03 million, a price-to-earnings ratio of -2.45 and a beta of 0.70.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, topping analysts' consensus estimates of ($1.04) by $0.06. The firm had revenue of $20.04 million for the quarter, compared to analyst estimates of $15.88 million. Syndax Pharmaceuticals had a negative return on equity of 101.60% and a negative net margin of 757.53%. Syndax Pharmaceuticals's quarterly revenue was up 1900.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.85) earnings per share. As a group, equities research analysts expect that Syndax Pharmaceuticals will post -3.72 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Michael A. Metzger sold 7,534 shares of the firm's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $9.29, for a total transaction of $69,990.86. Following the completion of the sale, the chief executive officer owned 298,661 shares in the company, valued at $2,774,560.69. This trade represents a 2.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Soleus Capital Management L.P. lifted its stake in Syndax Pharmaceuticals by 128.4% in the fourth quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company's stock worth $32,944,000 after purchasing an additional 1,401,016 shares during the last quarter. Octagon Capital Advisors LP bought a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth approximately $11,951,000. Renaissance Technologies LLC bought a new position in Syndax Pharmaceuticals in the fourth quarter worth approximately $9,002,000. Trexquant Investment LP raised its position in shares of Syndax Pharmaceuticals by 1,309.7% during the 4th quarter. Trexquant Investment LP now owns 471,292 shares of the company's stock valued at $6,230,000 after purchasing an additional 437,859 shares during the period. Finally, Altium Capital Management LLC bought a new stake in shares of Syndax Pharmaceuticals during the 4th quarter valued at $4,891,000.

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).