Syndax Pharmaceuticals Inc. [SNDX] Revenue clocked in at $1.50 million, up 193.28% YTD: What’s Next?

Syndax Pharmaceuticals Inc. [NASDAQ: SNDX] traded at a high on 12/09/20, posting a 7.29 gain after which it closed the day’ session at $25.75. The company report on December 9, 2020 that Syndax Announces Pricing of Public Offering of Common Stock.

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Syndax Pharmaceuticals, Inc. (“Syndax,” the “Company” or “we”) (Nasdaq: SNDX), a clinical stage biopharmaceutical company developing an innovative pipeline of cancer therapies, announced the pricing of an underwritten public offering of 5,434,783 shares of its common stock at a price to the public of $23.00 per share. The gross proceeds to Syndax from this offering, before deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $125 million. The offering is expected to close on December 11, 2020, subject to customary closing conditions. Additionally, Syndax granted the underwriters a 30-day option to purchase up to 815,217 additional shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares of common stock in the offering will be sold by Syndax.

Goldman Sachs & Co. LLC, Citigroup and Cowen are acting as joint book-running managers for the offering. BTIG is acting as lead manager for the offering. Baird is acting as co-manager for the offering.

The results of the trading session contributed to over 2330508 shares changing hands. Over the past one week, the price volatility of Syndax Pharmaceuticals Inc. stands at 10.09% while the volatility over the past one month is 7.10%.

The market cap for SNDX stock reached $1.03 billion, with 44.16 million shares outstanding and 37.88 million shares in the current float. Compared to the average trading volume of 592.88K shares, SNDX reached a trading volume of 2330508 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Syndax Pharmaceuticals Inc. [SNDX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNDX shares is $25.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNDX stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for Syndax Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 03, 2020. While these analysts kept the previous recommendation, Citigroup dropped their target price from $26 to $23. The new note on the price target was released on May 22, 2020, representing the official price target for Syndax Pharmaceuticals Inc. stock. Previously, the target price had yet another drop from $25 to $15, while H.C. Wainwright kept a Neutral rating on SNDX stock.

The Average True Range (ATR) for Syndax Pharmaceuticals Inc. is set at 1.79, with the Price to Sales ratio for SNDX stock in the period of the last 12 months amounting to 689.24. The Price to Book ratio for the last quarter was 8.61, with the Price to Cash per share for the same quarter was set at 4.38.

How has SNDX stock performed recently?

Syndax Pharmaceuticals Inc. [SNDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.99. With this latest performance, SNDX shares gained by 29.33% in over the last four-week period, additionally plugging by 65.91% over the last 6 months – not to mention a rise of 194.96% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNDX stock in for the last two-week period is set at 68.82, with the RSI for the last a single of trading hit 69.76, and the three-weeks RSI is set at 66.99 for Syndax Pharmaceuticals Inc. [SNDX]. The present Moving Average for the last 50 days of trading for this stock 19.49, while it was recorded at 24.77 for the last single week of trading, and 15.66 for the last 200 days.

Syndax Pharmaceuticals Inc. [SNDX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Syndax Pharmaceuticals Inc. [SNDX] shares currently have an operating margin of -3792.95. Syndax Pharmaceuticals Inc.’s Net Margin is presently recorded at -3694.59.

Return on Total Capital for SNDX is now -134.52, given the latest momentum, and Return on Invested Capital for the company is -131.77. Return on Equity for this stock declined to -132.43, with Return on Assets sitting at -76.02. When it comes to the capital structure of this company, Syndax Pharmaceuticals Inc. [SNDX] has a Total Debt to Total Equity ratio set at 2.84. Additionally, SNDX Total Debt to Total Capital is recorded at 2.76, with Total Debt to Total Assets ending up at 1.41. Long-Term Debt to Equity for the company is recorded at 1.33, with the Long-Term Debt to Total Capital now at 1.29.

Reflecting on the efficiency of the workforce at the company, Syndax Pharmaceuticals Inc. [SNDX] managed to generate an average of -$1,601,343 per employee. Receivables Turnover for the company is 8.22 with a Total Asset Turnover recorded at a value of 0.02.Syndax Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.70 and a Current Ratio set at 11.70.

Earnings analysis for Syndax Pharmaceuticals Inc. [SNDX]

With the latest financial reports released by the company, Syndax Pharmaceuticals Inc. posted -0.44/share EPS, while the average EPS was predicted by analysts to be reported at -0.42/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -4.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNDX.

Insider trade positions for Syndax Pharmaceuticals Inc. [SNDX]

There are presently around $882 million, or 90.40% of SNDX stock, in the hands of institutional investors. The top three institutional holders of SNDX stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 3,330,568, which is approximately -11.344% of the company’s market cap and around 0.20% of the total institutional ownership; BVF INC/IL, holding 2,470,678 shares of the stock with an approximate value of $63.62 million in SNDX stocks shares; and BOXER CAPITAL, LLC, currently with $58.91 million in SNDX stock with ownership of nearly 0% of the company’s market capitalization.

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Positions in Syndax Pharmaceuticals Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 44 institutional holders increased their position in Syndax Pharmaceuticals Inc. [NASDAQ:SNDX] by around 4,776,121 shares. Additionally, 51 investors decreased positions by around 3,292,321 shares, while 18 investors held positions by with 26,165,865 shares. The mentioned changes placed institutional holdings at 34,234,307 shares, according to the latest SEC report filing. SNDX stock had 16 new institutional investments in for a total of 1,731,770 shares, while 15 institutional investors sold positions of 524,094 shares during the same period.

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