Key Points
- CEO Michael Metzger sold 32,375 shares of Syndax Pharmaceuticals on July 8 at an average price of $24.24, for proceeds of about $784,770. After the sale, he still directly owned 484,843 shares.
- Syndax stock rose 1.1% and recently traded near its 52-week high, opening at $24.84 versus a yearly range of $9.03 to $25.59. The company has a market cap of about $2.2 billion.
- Analysts remain mostly constructive on the stock, with a consensus rating of “Moderate Buy” and an average target price of $42.55. Recent reports included multiple buy ratings, though Weiss Ratings reiterated a sell rating.
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) CEO Michael Metzger sold 32,375 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total value of $784,770.00. Following the sale, the chief executive officer directly owned 484,843 shares of the company's stock, valued at approximately $11,752,594.32. This represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Syndax Pharmaceuticals Stock Up 1.1%
Syndax Pharmaceuticals stock opened at $24.84 on Friday. The stock has a 50 day moving average of $20.04 and a two-hundred day moving average of $21.35. Syndax Pharmaceuticals, Inc. has a twelve month low of $9.03 and a twelve month high of $25.59. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -8.90 and a beta of 0.37. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26.
Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 256.65% and a negative net margin of 111.88%.The company's revenue for the quarter was up 224.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.98) earnings per share. As a group, research analysts expect that Syndax Pharmaceuticals, Inc. will post -1.65 earnings per share for the current year.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, April 1st. Jefferies Financial Group restated a "buy" rating and issued a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. UBS Group reaffirmed a "buy" rating on shares of Syndax Pharmaceuticals in a report on Friday, June 12th. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a report on Friday, June 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Syndax Pharmaceuticals in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $42.55.
Read Our Latest Stock Report on SNDX
Institutional Trading of Syndax Pharmaceuticals
A number of institutional investors have recently modified their holdings of SNDX. Hsbc Holdings PLC grew its holdings in Syndax Pharmaceuticals by 3.2% during the first quarter. Hsbc Holdings PLC now owns 23,461 shares of the company's stock worth $556,000 after acquiring an additional 730 shares during the period. Pallas Capital Advisors LLC raised its position in Syndax Pharmaceuticals by 8.7% in the fourth quarter. Pallas Capital Advisors LLC now owns 10,985 shares of the company's stock worth $231,000 after acquiring an additional 875 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Syndax Pharmaceuticals by 26.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company's stock valued at $89,000 after acquiring an additional 893 shares during the period. Schroder Investment Management Group lifted its holdings in Syndax Pharmaceuticals by 1.0% in the third quarter. Schroder Investment Management Group now owns 123,404 shares of the company's stock valued at $1,920,000 after acquiring an additional 1,241 shares during the period. Finally, Verition Fund Management LLC boosted its position in shares of Syndax Pharmaceuticals by 7.5% during the 4th quarter. Verition Fund Management LLC now owns 18,460 shares of the company's stock worth $388,000 after purchasing an additional 1,281 shares in the last quarter.
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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