Keith Goldan Sells 1,177 Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) Stock

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) CFO Keith Goldan sold 1,177 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $18.99, for a total value of $22,351.23. Following the transaction, the chief financial officer directly owned 139,252 shares of the company’s stock, valued at $2,644,395.48. This trade represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Syndax Pharmaceuticals Stock Down 0.3%

NASDAQ:SNDX opened at $18.34 on Thursday. The firm has a market capitalization of $1.63 billion, a PE ratio of -6.57 and a beta of 0.38. The stock has a 50 day moving average of $21.90 and a 200-day moving average of $21.22. Syndax Pharmaceuticals, Inc. has a 52 week low of $8.59 and a 52 week high of $25.59. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26.

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

Analyst Ratings Changes

Several research firms have recently commented on SNDX. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Friday, March 27th. Stifel Nicolaus set a $45.00 price objective on Syndax Pharmaceuticals in a research report on Friday, February 27th. Barclays boosted their price objective on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Jefferies Financial Group restated a “buy” rating and issued a $40.00 target price (down from $48.00) on shares of Syndax Pharmaceuticals in a research report on Monday, March 30th. Finally, The Goldman Sachs Group upped their target price on Syndax Pharmaceuticals from $28.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.55.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Syndax Pharmaceuticals by 192.2% in the third 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 during the period. Quantbot Technologies LP acquired a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter valued at $53,000. Smartleaf Asset Management LLC boosted its stake in shares of Syndax Pharmaceuticals by 2,698.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock worth $55,000 after acquiring an additional 2,564 shares in the last quarter. Lazard Asset Management LLC bought a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter worth $66,000. Finally, Tower Research Capital LLC TRC boosted 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 acquiring an additional 4,308 shares in the last quarter.

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.