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

Wall Street Zen cut shares of Syndax Pharmaceuticals (NASDAQ:SNDX) from a hold rating to a sell rating in a research note released on Saturday.

Other equities analysts also recently issued research reports about the company. Barclays boosted their target price on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research note on Monday, November 24th. JPMorgan Chase & Co. cut their price objective on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. UBS Group raised their target price on Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. BTIG Research reiterated a “buy” rating and set a $56.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Finally, Stifel Nicolaus set a $45.00 price target on shares of Syndax Pharmaceuticals in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.90.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $22.14 on Friday. The company has a fifty day moving average price of $20.87 and a 200-day moving average price of $18.11. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -6.73 and a beta of 0.42. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.64 and a quick ratio of 4.42. Syndax Pharmaceuticals has a 1 year low of $8.58 and a 1 year high of $22.73.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.14). Syndax Pharmaceuticals had a negative return on equity of 175.50% and a negative net margin of 165.37%.The firm had revenue of $68.73 million for the quarter, compared to analysts’ expectations of $64.75 million. During the same quarter last year, the firm posted ($1.10) earnings per share. The firm’s revenue for the quarter was up 792.6% compared to the same quarter last year. As a group, equities research analysts predict that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insider Activity

In other Syndax Pharmaceuticals news, CFO Keith A. Goldan sold 3,410 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 $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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael A. Metzger sold 17,159 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 transaction of $360,853.77. Following the completion of the transaction, the chief executive officer owned 491,690 shares of the company’s stock, valued at $10,340,240.70. The trade was a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 30,063 shares of company stock worth $628,332. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Larson Financial Group LLC boosted 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 acquiring an additional 1,922 shares during the period. Quantbot Technologies LP purchased a new stake in Syndax Pharmaceuticals during the 3rd quarter worth about $53,000. Smartleaf Asset Management LLC boosted its stake in Syndax Pharmaceuticals by 2,698.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after purchasing an additional 2,564 shares during the period. Lazard Asset Management LLC bought a new position in Syndax Pharmaceuticals in the 2nd quarter worth about $66,000. Finally, Tower Research Capital LLC TRC grew its holdings in Syndax Pharmaceuticals by 103.3% during 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 in the last quarter.

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.