Wall Street Zen Upgrades Syndax Pharmaceuticals (NASDAQ:SNDX) to Hold

Key Points

• Wall Street Zen upgraded Syndax Pharmaceuticals from a "sell" to a "hold," while overall analyst sentiment remains a Moderate Buy with a consensus price target of $37.90.
• Syndax missed quarterly EPS (reported -$0.78 vs. -$0.64 expected) but posted revenue of $68.7M, up 792.6% year‑over‑year, and remains unprofitable with negative net margin and ROE.
• Company insiders have been net sellers recently — the CEO and CFO sold shares on Feb. 9 and insiders disposed of 30,063 shares (~$628k) over the last three months, with insiders owning about 4.1% of the stock.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

A number of other research firms have also recently weighed in on SNDX. BTIG Research reissued a "buy" rating and issued a $56.00 price objective on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 9th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th. Stifel Nicolaus set a $45.00 price target on Syndax Pharmaceuticals in a research note on Friday, February 27th. Barclays increased their price target on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an "overweight" rating in a report on Monday, November 24th. Finally, Citigroup raised their price objective on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $37.90.

Syndax Pharmaceuticals Trading Up 2.3%

NASDAQ SNDX opened at $22.07 on Friday. The company's fifty day simple moving average is $20.89 and its 200-day simple moving average is $18.26. Syndax Pharmaceuticals has a 52 week low of $8.58 and a 52 week high of $22.73. The company has a current ratio of 4.40, a quick ratio of 4.42 and a debt-to-equity ratio of 5.32. The stock has a market cap of $1.95 billion, a P/E ratio of -6.71 and a beta of 0.42.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly 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). Syndax Pharmaceuticals had a negative net margin of 165.37% and a negative return on equity of 206.62%. The firm had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.75 million. During the same period in the previous year, the business posted ($1.10) earnings per share. Syndax Pharmaceuticals's revenue for the quarter was up 792.6% on a year-over-year basis. Equities research analysts predict that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insider Activity

In other news, CEO Michael A. Metzger sold 17,159 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $21.03, for a total transaction of $360,853.77. Following the transaction, the chief executive officer owned 491,690 shares of the company's stock, valued at approximately $10,340,240.70. This trade represents a 3.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Keith A. Goldan sold 3,410 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $21.03, for a total value of $71,712.30. Following the completion of the transaction, the chief financial officer owned 140,429 shares of the company's stock, valued at $2,953,221.87. This trade represents a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders 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.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Sector Gamma AS bought a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter valued at approximately $3,243,000. Franklin Resources Inc. lifted its stake in Syndax Pharmaceuticals by 14.5% during the second quarter. Franklin Resources Inc. now owns 2,359,677 shares of the company's stock worth $22,098,000 after purchasing an additional 298,272 shares during the last quarter. Schroder Investment Management Group lifted its stake in Syndax Pharmaceuticals by 112.2% during the second quarter. Schroder Investment Management Group now owns 122,163 shares of the company's stock worth $1,144,000 after purchasing an additional 64,598 shares during the last quarter. Keybank National Association OH acquired a new position in Syndax Pharmaceuticals in the third quarter worth $2,305,000. Finally, Aisling Capital Management LP increased its stake in Syndax Pharmaceuticals by 28.5% during the second quarter. Aisling Capital Management LP now owns 1,316,806 shares of the company's stock valued at $12,325,000 after purchasing an additional 291,806 shares during the last quarter.

Syndax Pharmaceuticals Company Profile

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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