Goldman Sachs Group Inc. Raises Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Goldman Sachs Group Inc. lifted its holdings in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 3.8% in the fourth quarter, HoldingsChannel reports. The firm owned 5,695,375 shares of the company’s stock after acquiring an additional 208,941 shares during the period. Goldman Sachs Group Inc. owned approximately 0.07% of Syndax Pharmaceuticals worth $119,660,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Larson Financial Group LLC increased its stake in shares of Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after purchasing an additional 1,922 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Syndax Pharmaceuticals during the 3rd quarter worth approximately $53,000. Lazard Asset Management LLC purchased a new position in shares of Syndax Pharmaceuticals during the 2nd quarter worth approximately $66,000. Tower Research Capital LLC TRC increased its stake in shares of Syndax Pharmaceuticals by 103.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after purchasing an additional 4,308 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Syndax Pharmaceuticals by 26.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after purchasing an additional 893 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SNDX shares. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Syndax Pharmaceuticals in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. raised their price objective on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, March 9th. Jefferies Financial Group reissued a “buy” rating and set a $40.00 price objective (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. Citigroup raised their price objective on shares of Syndax Pharmaceuticals from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Finally, Barclays raised their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $42.55.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 6,847 shares of Syndax Pharmaceuticals stock in a transaction on Monday, June 1st. The shares were sold at an average price of $18.99, for a total value of $130,024.53. Following the transaction, the chief executive officer owned 484,843 shares in the company, valued at $9,207,168.57. This trade represents a 1.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 4.10% of the stock is currently owned by company insiders.

Syndax Pharmaceuticals Stock Down 2.2%

Shares of SNDX opened at $16.96 on Tuesday. The firm has a market cap of $1.50 billion, a PE ratio of -6.08 and a beta of 0.38. The company’s fifty day moving average is $21.49 and its two-hundred day moving average is $21.23. Syndax Pharmaceuticals, Inc. has a fifty-two week low of $8.59 and a fifty-two week high of $25.59. The company has a quick ratio of 5.06, a current ratio of 5.47 and a debt-to-equity ratio of 8.26.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. The company had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. Syndax Pharmaceuticals’s revenue for the quarter was up 224.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.98) EPS. Analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current year.

Syndax Pharmaceuticals Company Profile

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.