Shares of Syndax Pharmaceuticals Inc (NASDAQ:SNDX) have received an average recommendation of “Buy” from the nine analysts that are covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $15.67.
A number of research firms recently weighed in on SNDX. Zacks Investment Research raised Syndax Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a research report on Wednesday, May 8th. BTIG Research decreased their target price on Syndax Pharmaceuticals to $19.00 and set a “buy” rating on the stock in a research report on Friday, March 8th. HC Wainwright reissued a “buy” rating and set a $16.00 target price (down from $22.00) on shares of Syndax Pharmaceuticals in a research report on Friday, March 8th. They noted that the move was a valuation call. ValuEngine downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Finally, Nomura lifted their target price on Syndax Pharmaceuticals to $16.00 and gave the stock a “buy” rating in a research report on Friday, March 8th.
Shares of Syndax Pharmaceuticals stock traded down $0.03 during trading on Thursday, reaching $7.50. The company’s stock had a trading volume of 103,400 shares, compared to its average volume of 176,724. Syndax Pharmaceuticals has a one year low of $3.39 and a one year high of $11.24. The firm has a market capitalization of $201.87 million, a PE ratio of -2.57 and a beta of 2.61. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.24 and a current ratio of 6.24.
In related news, CEO Briggs Morrison acquired 20,400 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $7.46 per share, with a total value of $152,184.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 15.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in shares of Syndax Pharmaceuticals in the 1st quarter worth approximately $55,000. Paloma Partners Management Co acquired a new position in shares of Syndax Pharmaceuticals in the 4th quarter worth approximately $56,000. Parametric Portfolio Associates LLC acquired a new position in shares of Syndax Pharmaceuticals in the 1st quarter worth approximately $69,000. Squarepoint Ops LLC boosted its holdings in shares of Syndax Pharmaceuticals by 51.3% in the 4th quarter. Squarepoint Ops LLC now owns 18,601 shares of the company’s stock worth $83,000 after acquiring an additional 6,303 shares in the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in shares of Syndax Pharmaceuticals by 30.6% in the 1st quarter. State of Wisconsin Investment Board now owns 18,800 shares of the company’s stock worth $99,000 after acquiring an additional 4,400 shares in the last quarter. 56.99% of the stock is currently owned by institutional investors.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. The company's lead product candidates include entinostat, which is in Phase III clinical trials for the treatment of advanced hormone receptor positive (HR+) and human epidermal growth factor receptor 2 negative (HER2-) breast cancer; and SNDX-5613 inhibitor that targets the binding interaction of Menin with mixed lineage leukemia-rearranged and acute myeloid leukemia with a mutated nucleophosmin 1.
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