Stonepine Capital Management LLC Makes New Investment in Syndax Pharmaceuticals, Inc. $SNDX

Stonepine Capital Management LLC bought a new stake in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) during the second quarter, HoldingsChannel reports. The firm bought 92,900 shares of the company’s stock, valued at approximately $870,000.

Other institutional investors also recently modified their holdings of the company. Phoenix Financial Ltd. purchased a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter worth approximately $701,000. Exome Asset Management LLC increased its holdings in shares of Syndax Pharmaceuticals by 5.7% during the first quarter. Exome Asset Management LLC now owns 337,198 shares of the company’s stock valued at $4,142,000 after acquiring an additional 18,298 shares in the last quarter. Deutsche Bank AG grew its position in Syndax Pharmaceuticals by 127.7% during the 1st quarter. Deutsche Bank AG now owns 204,732 shares of the company’s stock valued at $2,516,000 after purchasing an additional 114,828 shares during the last quarter. Franklin Resources Inc. increased its stake in Syndax Pharmaceuticals by 14.5% during the 2nd quarter. Franklin Resources Inc. now owns 2,359,677 shares of the company’s stock valued at $22,098,000 after purchasing an additional 298,272 shares in the last quarter. Finally, Aberdeen Group plc raised its holdings in Syndax Pharmaceuticals by 129.1% in the second quarter. Aberdeen Group plc now owns 303,426 shares of the company’s stock worth $2,842,000 after buying an additional 170,993 shares during the last quarter.

Syndax Pharmaceuticals Stock Performance

SNDX stock opened at $19.71 on Thursday. The company has a debt-to-equity ratio of 2.78, a current ratio of 4.64 and a quick ratio of 4.42. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.58 and a 1 year high of $20.20. The company has a market cap of $1.71 billion, a P/E ratio of -5.46 and a beta of 0.48. The stock’s fifty day moving average price is $16.11 and its 200-day moving average price is $13.45.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.04. The company had revenue of $45.87 million for the quarter, compared to the consensus estimate of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.Syndax Pharmaceuticals’s revenue was up 266.4% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.98) earnings per share. On average, equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Buying and Selling at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 157,307 shares of the firm’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $16.41, for a total value of $2,581,407.87. Following the transaction, the chief executive officer owned 298,661 shares of the company’s stock, valued at approximately $4,901,027.01. This trade represents a 34.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Guggenheim started coverage on shares of Syndax Pharmaceuticals in a report on Thursday, September 4th. They set a “buy” rating and a $34.00 price target on the stock. BTIG Research reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. JPMorgan Chase & Co. reduced their target price on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and a consensus price target of $37.20.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).