Syndax Pharmaceuticals (NASDAQ:SNDX) Price Target Cut to $43.00 by Analysts at Mizuho

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target dropped by equities researchers at Mizuho from $45.00 to $43.00 in a report released on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target points to a potential upside of 82.51% from the stock’s previous close.

SNDX has been the topic of several other reports. BTIG Research reaffirmed a “buy” rating and issued a $56.00 price target 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 report on Friday. JPMorgan Chase & Co. raised their target price on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, March 9th. Jefferies Financial Group restated a “buy” rating and issued a $40.00 price target (down from $48.00) on shares of Syndax Pharmaceuticals in a research report on Monday. Finally, Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a report on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.50.

Syndax Pharmaceuticals Trading Up 4.8%

Syndax Pharmaceuticals stock opened at $23.56 on Tuesday. Syndax Pharmaceuticals has a 1 year low of $8.58 and a 1 year high of $25.59. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of -7.16 and a beta of 0.42. The company has a debt-to-equity ratio of 5.32, a quick ratio of 4.12 and a current ratio of 4.40. The firm’s 50 day moving average price is $21.85 and its two-hundred day moving average price is $19.15.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.78) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $64.75 million. During the same quarter last year, the company posted ($1.10) EPS. The firm’s revenue was up 792.6% compared to the same quarter last year. On average, research analysts predict that Syndax Pharmaceuticals will post -3.72 EPS for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael A. Metzger sold 17,159 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $21.03, for a total value of $360,853.77. Following the completion of the sale, the chief executive officer directly owned 491,690 shares in the company, valued at approximately $10,340,240.70. This represents a 3.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 30,063 shares of company stock valued at $628,332. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in SNDX. Invesco Ltd. lifted its stake in shares of Syndax Pharmaceuticals by 20.6% during the 4th quarter. Invesco Ltd. now owns 160,525 shares of the company’s stock worth $3,373,000 after buying an additional 27,434 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $374,000. Virtus Investment Advisers LLC lifted its stake in Syndax Pharmaceuticals by 214.6% during the fourth quarter. Virtus Investment Advisers LLC now owns 33,549 shares of the company’s stock worth $705,000 after purchasing an additional 22,885 shares during the last quarter. Twinbeech Capital LP lifted its position in shares of Syndax Pharmaceuticals by 19.4% during the 4th quarter. Twinbeech Capital LP now owns 52,900 shares of the company’s stock worth $1,111,000 after buying an additional 8,606 shares during the last quarter. Finally, Sphera Funds Management LTD. boosted its stake in Syndax Pharmaceuticals by 96.7% in the fourth quarter. Sphera Funds Management LTD. now owns 762,563 shares of the company’s stock valued at $16,021,000 after buying an additional 374,847 shares in 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.