What Technical Indicators Show About Syndax Pharmaceuticals Inc. (SNDX)?

Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) finished Friday with an addition of $0.32 to close at $18.96, an upside of 1.72 percent. An average of 256,180 shares of common stock have been traded in the last five days. There was a gain of $0.37 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 509,305 shares traded, while the 50-day average volume stands at 522,616.

SNDX stock has increased by 1.61% in the last month. The company shares reached their 1-month lowest point of $16.44 on 10/05/21. With the stock rallying to its 52-week high on 03/24/21, shares of the company touched a low of $13.02 and a high of $27.85 in 52 weeks. It has reached a new high 8 times so far this year and lost -14.75% or -$3.28 in price. In spite of this, the price is down -31.92% from the 52-week high.

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Insider Transactions

26 days have passed since Syndax Pharmaceuticals Inc. (SNDX) last reported insider trading activity. Metzger Michael A, who is President and COO, most recently acquired $24,437 shares at $19.51 per share on Sep 27. In this transaction, the insider spent $476,832. President and COO, Metzger Michael A, disposed of 300 shares at a price of $19.02 on Sep 22. The insider now owns more than $5,706 worth of shares. Prior to that, President and COO Metzger Michael A went on to Sale 4,808 shares at $19.16 each on Sep 21. An amount of $92,108 was transacted.

Valuation Metrics

Syndax Pharmaceuticals Inc. (SNDX) has a trailing price-to-earnings (P/E) ratio of 34.65 for the broader industry and 33.43 for the sector. The stock’s beta is 1.43. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 611.27, the price-to-book (PB) ratio at 4.56.

The quick ratio of Syndax Pharmaceuticals Inc. for the three months ended June 29 was 10.80, and the current ratio was 10.80, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.06 and a total debt to equity ratio of 0.09 for the quarter ending June 29. Syndax Pharmaceuticals Inc.’s EBITDA margin for the year ending June 29 is -4674.23%. Its gross profit as reported stood at $72.94 million compared to revenue of $1.52 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Syndax Pharmaceuticals Inc.’s return on assets was -35.80%. For the broader industry, ROE averaged -68.79 over the past year.

Earnings Surprise

For the three-month period that ended June 29, Syndax Pharmaceuticals Inc. had $185.09 million in cash and short-term investments compared to $13.32 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$22.91 million in the quarter, while revenues of -$27.72 million were grew 25.53%. The analyst consensus anticipated Syndax Pharmaceuticals Inc.’s latest quarter earnings to come in at -$0.71 per share, but it turned out to be -$0.44, a 38.00% surprise. For the quarter, EBITDA amounted to -$22.14 million. Shareholders own equity worth $48.63 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Syndax Pharmaceuticals Inc. (SNDX) price momentum. RSI 9-day as of the close on 22 October was 60.16%, suggesting the stock is Neutral, with historical volatility in this time frame at 20.24%.

As of today, SNDX’s price is $18.47 +1.99% or $0.37 from its 5-day moving average. SNDX is currently trading +0.85% higher than its 20-day SMA and +4.93% higher than its 100-day SMA. However, the stock’s current price level is +21.00% above the SMA50 and -19.80% below the SMA200.

The stochastic %K and %D were 74.11% and 63.12%, respectively, and the average true range (ATR) was 0.72. With the 14-day stochastic at 97.11% and the average true range at 0.77, the RSI (14) stands at 56.87%. The stock has reached 0.24 on the 9-day MACD Oscillator while the 14-day reading was at 0.39.

Analyst Ratings

The consensus rating for Syndax Pharmaceuticals Inc. (SNDX) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell SNDX, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 5 others rate it as a “buy”.

What is SNDX’s price target for the next 12 months?

Analysts predict a range of price targets between $21.00 and $32.00, with a median target of $30.50. Taking a look at these predictions, the average price target given by analysts for Syndax Pharmaceuticals Inc. (SNDX) stock is $28.00.


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