Syndax Pharmaceuticals Inc (NASDAQ:SNDX) finished Friday with a subtraction of -$1.11 to close at $14.52, a downside of -7.10 percent. An average of 2,840,280 shares of common stock have been traded in the last five days. There was a fall of -$1.44 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 1,491,290 shares traded, while the 50-day average volume stands at 1,035,926.
SNDX stock has decreased by -22.68% in the last month. The company shares reached their 1-month lowest point of $12.85 on 09/29/23. With the stock rallying to its 52-week high on 02/02/23, shares of the company touched a low of $14.70 and a high of $29.86 in 52 weeks. It has reached a new high 7 times so far this year and lost -42.95% or -$10.93 in price. In spite of this, the price is down -51.37% from the 52-week high.
Insider Transactions
SNDX stock investors should be aware that Syndax Pharmaceuticals Inc (SNDX) stock had its last reported insider trading activity 52 days ago on Aug 09. In this transaction, the insider spent $965,402. Director, Meury William, disposed of 83,000 shares at a price of $20.46 on Aug 02. The insider now owns more than $1,697,810 worth of shares. Prior to that, Director Morrison Briggs went on to Sale 52,855 shares at $20.40 each on Jul 10. An amount of $1,078,068 was transacted.
Valuation Metrics
Syndax Pharmaceuticals Inc (SNDX) stock’s beta is 1.17. Other valuation ratios to consider include the price-to-book (PB) ratio at 2.52.
Financial Health
The quick ratio of Syndax Pharmaceuticals Inc for the three months ended June 29 was 13.56, and the current ratio was 13.56, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.01 for the quarter ending June 29. Its gross profit as reported stood at $151.76 million.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$44.62 million in the quarter, while revenues of -$41.13 million were grew 15.8%. The analyst consensus anticipated Syndax Pharmaceuticals Inc’s latest quarter earnings to come in at -$0.73 per share, but it turned out to be -$0.64, a 12.30% surprise. For the quarter, EBITDA amounted to -$53.39 million. Shareholders own equity worth $69.48 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 29 September was 21.87%, suggesting the stock is oversold, with historical volatility in this time frame at 44.85%.
As of today, SNDX’s price is $15.35 -9.02% or -$1.44 from its 5-day moving average. SNDX is currently trading -21.56% lower than its 20-day SMA and -28.44% lower than its 100-day SMA. However, the stock’s current price level is -32.05% below the SMA50 and -38.71% below the SMA200.
The stochastic %K and %D were 22.61% and 12.99%, respectively, and the average true range (ATR) was 1.05. With the 14-day stochastic at 34.54% and the average true range at 0.93, the RSI (14) stands at 25.25%. The stock has reached -0.72 on the 9-day MACD Oscillator while the 14-day reading was at -1.20.
Analyst Ratings
Scotiabank launched coverage on Syndax Pharmaceuticals Inc (NASDAQ: SNDX) in its analyst report released on July 27, 2023. The firm assigned the stock a Sector outperform rating. 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 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 9 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 $32.00 and $42.00, with a median target of $36.00. Taking a look at these predictions, the average price target given by analysts for Syndax Pharmaceuticals Inc (SNDX) stock is $36.50.
