Syndax Pharmaceuticals (NASDAQ:SNDX) Cut to “Sell” at Wall Street Zen

Wall Street Zen lowered shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a hold rating to a sell rating in a research report report published on Sunday morning.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. reduced their price target on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. UBS Group increased their price target on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Barclays raised their price target on shares of Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a report on Monday, November 24th. Finally, BTIG Research reiterated a “buy” rating and set a $56.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $37.20.

Syndax Pharmaceuticals Trading Down 1.2%

SNDX opened at $20.47 on Friday. Syndax Pharmaceuticals has a 52 week low of $8.58 and a 52 week high of $22.73. The company has a quick ratio of 4.42, a current ratio of 4.64 and a debt-to-equity ratio of 2.78. The stock’s fifty day moving average is $19.47 and its two-hundred day moving average is $15.63. The company has a market capitalization of $1.78 billion, a P/E ratio of -5.67 and a beta of 0.48.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.The firm had revenue of $45.87 million during the quarter, compared to the consensus estimate of $49.08 million. During the same period in the previous year, the company posted ($0.98) earnings per share. The firm’s quarterly revenue was up 266.4% on a year-over-year basis. Analysts forecast that Syndax Pharmaceuticals will post -3.72 earnings per share for the current year.

Institutional Trading of Syndax Pharmaceuticals

Large investors have recently bought and sold shares of the stock. Larson Financial Group LLC raised its holdings in shares of Syndax Pharmaceuticals by 192.2% in the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after buying an additional 1,922 shares during the last quarter. Quantbot Technologies LP acquired a new stake in Syndax Pharmaceuticals during the 3rd quarter worth about $53,000. Lazard Asset Management LLC purchased a new position in shares of Syndax Pharmaceuticals during the 2nd quarter valued at about $66,000. Tower Research Capital LLC TRC lifted its holdings in shares of Syndax Pharmaceuticals by 103.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after buying an additional 4,308 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in shares of Syndax Pharmaceuticals in the second quarter worth about $97,000.

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.