ValuEngine Downgrades Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) to Sell

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

A number of other research analysts have also issued reports on the stock. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, March 22nd. Cowen and Company reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 9th. Zacks Investment Research upgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.25 price objective on the stock in a research note on Friday, May 12th. Citigroup Inc. set a $24.00 price objective on shares of Syndax Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday, May 19th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Syndax Pharmaceuticals in a research note on Monday, July 10th. Two investment analysts have rated the stock with a sell rating and ten have given a buy rating to the company’s stock. Syndax Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $23.91.

Syndax Pharmaceuticals (SNDX) traded up 0.53% during midday trading on Monday, reaching $13.34. 46,665 shares of the company’s stock were exchanged. Syndax Pharmaceuticals has a 12-month low of $6.31 and a 12-month high of $18.03. The stock’s 50-day moving average is $12.17 and its 200-day moving average is $10.57. The stock’s market capitalization is $243.52 million.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Monday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.74) by $0.03. Syndax Pharmaceuticals had a negative net margin of 3,861.72% and a negative return on equity of 52.82%. The business had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.31 million. On average, equities analysts forecast that Syndax Pharmaceuticals will post ($3.63) earnings per share for the current year.

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In related news, insider Peter Ordentlich sold 5,000 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $15.00, for a total transaction of $75,000.00. Following the sale, the insider now owns 5,000 shares in the company, valued at $75,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 24.10% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in SNDX. Bank of Montreal Can purchased a new stake in Syndax Pharmaceuticals during the second quarter valued at approximately $158,000. Point72 Asset Management L.P. purchased a new stake in Syndax Pharmaceuticals during the first quarter valued at approximately $1,358,000. Oppenheimer & Co. Inc. purchased a new stake in Syndax Pharmaceuticals during the first quarter valued at approximately $365,000. Morgan Stanley raised its stake in Syndax Pharmaceuticals by 209.0% in the first quarter. Morgan Stanley now owns 119,987 shares of the company’s stock valued at $1,646,000 after buying an additional 81,159 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Syndax Pharmaceuticals by 10.5% in the first quarter. Geode Capital Management LLC now owns 98,962 shares of the company’s stock valued at $1,357,000 after buying an additional 9,410 shares in the last quarter. Institutional investors own 53.59% of the company’s stock.

Syndax Pharmaceuticals Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Syndax Pharmaceuticals (NASDAQ:SNDX)

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