Key Points
- Syndax Pharmaceuticals CEO Michael Metzger sold 6,847 shares on June 1 at an average price of $18.99, totaling about $130,024.53. The filing said the sale was made to cover tax withholding obligations tied to vesting equity awards.
- The stock was down 2.4% and opened at $18.39, well below its 52-week high of $25.59 but above its low of $8.59. The company also has a negative earnings profile, with a trailing P/E of -6.59.
- Analysts remain mostly positive on SNDX, with a consensus rating of “Moderate Buy” and an average price target of $42.55. Institutional investors such as Vanguard and Bank of America also recently increased their positions.
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) CFO Keith Goldan sold 1,177 shares of Syndax Pharmaceuticals stock in a transaction on Monday, June 1st. The shares were sold at an average price of $18.99, for a total transaction of $22,351.23. Following the transaction, the chief financial officer owned 139,252 shares in the company, valued at $2,644,395.48. The trade was a 0.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Syndax Pharmaceuticals Stock Performance
NASDAQ:SNDX opened at $18.39 on Wednesday. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of -6.59 and a beta of 0.38. The firm's fifty day simple moving average is $22.13 and its 200 day simple moving average is $21.20. Syndax Pharmaceuticals, Inc. has a twelve month low of $8.59 and a twelve month high of $25.59.
Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.11. The business had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The business's quarterly revenue was up 224.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.98) EPS. As a group, equities research analysts expect that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Syndax Pharmaceuticals
Institutional investors have recently modified their holdings of the stock. Palumbo Wealth Management LLC bought a new stake in shares of Syndax Pharmaceuticals during the 4th quarter valued at about $1,079,000. Apis Capital Advisors LLC bought a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter valued at about $9,816,000. Torray Investment Partners LLC bought a new stake in shares of Syndax Pharmaceuticals during the 4th quarter valued at about $2,055,000. SG Americas Securities LLC grew its position in shares of Syndax Pharmaceuticals by 184.5% during the 4th quarter. SG Americas Securities LLC now owns 129,227 shares of the company's stock valued at $2,715,000 after buying an additional 83,801 shares during the last quarter. Finally, Keybank National Association OH bought a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter valued at about $2,305,000.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Jefferies Financial Group restated a "buy" rating and set a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a report on Monday, March 30th. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Sunday, March 8th. Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a "buy" rating in a report on Monday, March 2nd. UBS Group cut their price objective on shares of Syndax Pharmaceuticals from $38.00 to $37.00 and set a "buy" rating on the stock in a report on Wednesday, May 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $42.55.
View Our Latest Stock Report on SNDX
About Syndax Pharmaceuticals
(
Get Free Report)
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.
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