Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Tuesday, June 27th.
Other equities research analysts have also recently issued research reports about the company. Citigroup Inc. set a $24.00 price objective on Syndax Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, May 19th. Oppenheimer Holdings, Inc. set a $25.00 target price on Syndax Pharmaceuticals and gave the company a “buy” rating in a report on Saturday, March 4th. Cowen and Company restated an “outperform” rating on shares of Syndax Pharmaceuticals in a report on Friday, May 19th. Zacks Investment Research upgraded Syndax Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.25 price target on the stock in a report on Friday, May 12th. Finally, FBR & Co assumed coverage on Syndax Pharmaceuticals in a report on Thursday, March 16th. They set an “outperform” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $24.63.
Syndax Pharmaceuticals (NASDAQ:SNDX) opened at 13.275 on Tuesday. The company’s market cap is $242.34 million. Syndax Pharmaceuticals has a 52-week low of $6.31 and a 52-week high of $18.03. The stock’s 50 day moving average is $12.17 and its 200 day moving average is $10.57.
Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Monday, May 8th. The company reported ($0.71) EPS for the quarter, topping the consensus estimate of ($0.74) by $0.03. Syndax Pharmaceuticals had a negative return on equity of 52.82% and a negative net margin of 3,861.72%. The business had revenue of $0.31 million during the quarter, compared to analysts’ expectations of $0.31 million. Equities research analysts forecast that Syndax Pharmaceuticals will post ($3.60) earnings per share for the current year.
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In other Syndax Pharmaceuticals news, insider Peter Ordentlich sold 5,000 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $15.00, for a total transaction of $75,000.00. Following the sale, the insider now directly owns 5,000 shares in the company, valued at approximately $75,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 24.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP purchased a new position in Syndax Pharmaceuticals during the first quarter valued at $283,000. Granite Point Capital Management L.P. bought a new position in shares of Syndax Pharmaceuticals during the first quarter worth approximately $686,000. Oppenheimer & Co. Inc. bought a new position in shares of Syndax Pharmaceuticals during the first quarter worth approximately $365,000. Alyeska Investment Group L.P. boosted its position in shares of Syndax Pharmaceuticals by 33.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 225,000 shares of the company’s stock worth $1,613,000 after buying an additional 56,228 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Syndax Pharmaceuticals by 8.3% in the first quarter. Wellington Management Group LLP now owns 2,539,820 shares of the company’s stock worth $34,847,000 after buying an additional 195,172 shares in the last quarter. 53.59% of the stock is currently owned by hedge funds and other institutional investors.
About Syndax Pharmaceuticals
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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