Syndax Pharmaceuticals, Inc. (SNDX) Downgraded by Zacks Investment Research to Sell
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, July 11th.
According to Zacks, “Syndax Pharmaceuticals, Inc. is a biopharmaceutical company which focused on the development and commercialization of entinostat, an epigenetic therapy for treatment-resistant cancers. The Company’s product pipeline includes ENCORE 601, ENCORE 602, J1353, NCI-7870, NCI-9844, E2112, NCI-8871 and NCI-9253 which are in clinical trial stage. Syndax Pharmaceuticals, Inc. is based in WALTHAM, United States. “
Other equities analysts also recently issued reports about the company. Citigroup Inc. set a $24.00 price target on Syndax Pharmaceuticals and gave the company a “buy” rating in a report on Friday, May 19th. Oppenheimer Holdings, Inc. set a $25.00 price target on Syndax Pharmaceuticals and gave the company a “buy” rating in a report on Monday, May 8th. ValuEngine upgraded Syndax Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Thursday, May 18th. Cowen and Company restated an “outperform” rating on shares of Syndax Pharmaceuticals in a report on Friday, May 19th. Finally, FBR & Co assumed coverage on Syndax Pharmaceuticals in a report on Thursday, March 16th. They set an “outperform” rating and a $27.00 price target for the company. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.63.
Syndax Pharmaceuticals (NASDAQ:SNDX) opened at 12.73 on Tuesday. The firm’s 50-day moving average is $13.09 and its 200-day moving average is $11.51. Syndax Pharmaceuticals has a 12-month low of $6.31 and a 12-month high of $18.03. The stock’s market capitalization is $232.39 million.
Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Monday, May 8th. The company reported ($0.71) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.03. Syndax Pharmaceuticals had a negative return on equity of 52.82% and a negative net margin of 3,861.72%. The firm had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.31 million. Analysts predict that Syndax Pharmaceuticals will post ($3.60) EPS for the current fiscal year.
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In related news, insider Peter Ordentlich sold 5,000 shares of Syndax Pharmaceuticals stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $15.00, for a total value of $75,000.00. Following the completion of the sale, the insider now directly owns 5,000 shares in the company, valued at approximately $75,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 24.10% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in SNDX. Bank of Montreal Can acquired a new stake in Syndax Pharmaceuticals during the second quarter valued at approximately $158,000. C WorldWide Group Holding A S acquired a new stake in Syndax Pharmaceuticals during the first quarter valued at approximately $163,000. Alps Advisors Inc. acquired a new stake in Syndax Pharmaceuticals during the second quarter valued at approximately $277,000. Trexquant Investment LP acquired a new stake in Syndax Pharmaceuticals during the first quarter valued at approximately $283,000. Finally, TIAA CREF Investment Management LLC increased its stake in Syndax Pharmaceuticals by 36.2% in the first quarter. TIAA CREF Investment Management LLC now owns 22,924 shares of the company’s stock valued at $315,000 after buying an additional 6,091 shares during the last quarter. Institutional investors own 53.59% of the company’s stock.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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