Key Points
- Director Dennis Podlesak sold 8,000 SNDX shares for approximately $113,680, reducing his holdings by 3.23% to 239,763 shares.
- Syndax shares opened at $13.65, near their 12-month low of $12.80 and well below the 50-day and 200-day moving averages. The company recently missed quarterly earnings and revenue expectations, despite revenue rising 91.8% year over year.
- Analyst sentiment remains broadly positive, with 10 Buy ratings and one Sell rating, producing a “Moderate Buy” consensus and an average price target of $41.80; several institutional investors also recently initiated or increased positions.
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) Director Dennis Podlesak sold 8,000 shares of the business's stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $14.21, for a total transaction of $113,680.00. Following the transaction, the director owned 239,763 shares in the company, valued at $3,407,032.23. The trade was a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Syndax Pharmaceuticals Stock Down 3.5%
Shares of NASDAQ SNDX opened at $13.65 on Friday. The firm has a market cap of $1.21 billion, a PE ratio of -5.44 and a beta of 0.42. Syndax Pharmaceuticals, Inc. has a 12-month low of $12.80 and a 12-month high of $25.59. The company's fifty day simple moving average is $17.18 and its 200 day simple moving average is $20.25. The company has a quick ratio of 6.44, a current ratio of 6.77 and a debt-to-equity ratio of 38.95.
Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) EPS for the quarter, missing analysts' consensus estimates of ($0.45) by ($0.10). Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%. The company had revenue of $72.79 million during the quarter, compared to analyst estimates of $79.36 million. During the same quarter in the previous year, the business posted ($0.83) earnings per share. The company's revenue for the quarter was up 91.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -2.01 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in SNDX. BlackRock Inc. bought a new stake in shares of Syndax Pharmaceuticals during the second quarter worth about $197,177,000. Bank of America Corp DE acquired a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter worth about $88,426,000. Elmind Capital LP acquired a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter worth about $40,550,300. Trails Edge Capital Partners LP bought a new position in Syndax Pharmaceuticals in the 2nd quarter valued at about $24,264,600. Finally, Algert Global LLC lifted its position in Syndax Pharmaceuticals by 13.2% in the 2nd quarter. Algert Global LLC now owns 1,051,465 shares of the company's stock valued at $22,985,000 after acquiring an additional 122,897 shares in the last quarter.
Analyst Ratings Changes
A number of analysts recently commented on the company. Weiss Ratings lowered Syndax Pharmaceuticals from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, October 19th. HC Wainwright reiterated a "buy" rating and issued a $38.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, October 13th. JPMorgan Chase & Co. reduced their price objective on Syndax Pharmaceuticals from $44.00 to $40.00 and set an "overweight" rating for the company in a research note on Tuesday, August 11th. Jefferies Financial Group restated a "buy" rating and set a $35.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday, September 29th. Finally, UBS Group reaffirmed a "buy" rating on shares of Syndax Pharmaceuticals in a research report on Thursday, October 1st. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $41.80.
Get Our Latest Analysis on SNDX
Syndax Pharmaceuticals Company Profile
(
Get Free Report)
Syndax Pharmaceuticals, Inc (NASDAQ:SNDX) is a biopharmaceutical company focused on developing and commercializing therapies for cancer and immune-related diseases. Founded in 2005 and headquartered in Waltham, Massachusetts, the company develops medicines designed to address genetically defined cancers and serious complications associated with cancer treatment.
Syndax's lead product is Revuforj (revumenib), an oral menin inhibitor approved in the United States for the treatment of relapsed or refractory acute leukemia with a KMT2A translocation in eligible adults and children.
Further Reading
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