Syndax Pharmaceuticals (NASDAQ:SNDX) Downgraded to Sell at StockNews.com

StockNews.com downgraded shares of Syndax Pharmaceuticals (NASDAQ:SNDX – Get Rating) from a hold rating to a sell rating in a report published on Monday.

Several other equities research analysts have also weighed in on SNDX. HC Wainwright restated a buy rating and issued a $33.00 target price on shares of Syndax Pharmaceuticals in a report on Wednesday, March 1st. Citigroup boosted their target price on Syndax Pharmaceuticals from $29.00 to $32.00 and gave the stock a buy rating in a report on Thursday, March 2nd. The Goldman Sachs Group reduced their target price on Syndax Pharmaceuticals from $39.00 to $34.00 and set a buy rating for the company in a report on Wednesday, March 1st. Stifel Nicolaus initiated coverage on Syndax Pharmaceuticals in a report on Monday, January 30th. They issued a buy rating and a $37.00 target price for the company. Finally, JPMorgan Chase & Co. initiated coverage on Syndax Pharmaceuticals in a report on Tuesday, January 3rd. They issued an overweight rating and a $41.00 target price for the company. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $34.29.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $24.37 on Monday. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -9.95 and a beta of 1.04. Syndax Pharmaceuticals has a 52-week low of $13.27 and a 52-week high of $29.86. The stock has a 50-day simple moving average of $25.89 and a 200-day simple moving average of $24.30.

Syndax Pharmaceuticals (NASDAQ:SNDX – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The company reported ($0.62) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.02. As a group, equities research analysts predict that Syndax Pharmaceuticals will post -2.81 earnings per share for the current year.

Insider Activity

In other news, insider Briggs Morrison sold 52,854 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,418,072.82. Following the sale, the insider now directly owns 17,836 shares in the company, valued at $478,539.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Pierre Legault sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, January 12th. The stock was sold at an average price of $26.74, for a total transaction of $641,760.00. Following the sale, the director now directly owns 32,000 shares in the company, valued at $855,680. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Briggs Morrison sold 52,854 shares of the business’s stock in a transaction that occurred on Monday, February 6th. The shares were sold at an average price of $26.83, for a total value of $1,418,072.82. Following the sale, the insider now owns 17,836 shares in the company, valued at $478,539.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 107,813 shares of company stock worth $2,870,540. Company insiders own 6.30% of the company’s stock.

Institutional Trading of Syndax Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. MetLife Investment Management LLC boosted its stake in Syndax Pharmaceuticals by 3.3% in the 4th quarter. MetLife Investment Management LLC now owns 27,927 shares of the company’s stock valued at $711,000 after buying an additional 898 shares in the last quarter. Kiwi Wealth Investments Limited Partnership acquired a new stake in Syndax Pharmaceuticals in the 4th quarter valued at $804,000. State of Wisconsin Investment Board boosted its stake in Syndax Pharmaceuticals by 15.7% in the 4th quarter. State of Wisconsin Investment Board now owns 53,447 shares of the company’s stock valued at $1,360,000 after buying an additional 7,234 shares in the last quarter. Susquehanna Fundamental Investments LLC boosted its stake in Syndax Pharmaceuticals by 36.0% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 61,514 shares of the company’s stock valued at $1,566,000 after buying an additional 16,270 shares in the last quarter. Finally, Sandia Investment Management LP acquired a new stake in Syndax Pharmaceuticals in the 4th quarter valued at $127,000. 99.11% of the stock is currently owned by institutional investors.

Syndax Pharmaceuticals Company Profile

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Syndax Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company engaged in the development of cancer therapies. Its product candidates include SNDX-5613 and SNDX-6352. The company was founded by Richard A. Heyman, Eckard Weber, Peter Ordentlich, Ronald M. Evans and Michael Downes on October 11, 2005 and is headquartered in Waltham, MA.