The stock of Syndax Pharmaceuticals Inc (NASDAQ: SNDX) has decreased by -0.66 when compared to last closing price of 18.32. Despite this, the company has experienced a -2.62% fall in its stock price over the last five trading sessions. prnewswire.com reported 2024-10-04 that WALTHAM, Mass., Oct. 4, 2024 /PRNewswire/ — Syndax Pharmaceuticals (Nasdaq: SNDX), a commercial stage biopharmaceutical company developing an innovative pipeline of cancer therapies, today announced that on October 1, 2024 the Company granted inducement awards to purchase up to 62,700 shares of common stock to five new employees under the Company’s 2023 Inducement Plan.
Is It Worth Investing in Syndax Pharmaceuticals Inc (NASDAQ: SNDX) Right Now?
The 36-month beta value for SNDX is at 0.92. Analysts have varying views on the stock, with 4 analysts rating it as a “buy,” 4 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for SNDX is 79.45M, and currently, shorts hold a 12.69% of that float. The average trading volume for SNDX on October 11, 2024 was 1.01M shares.
SNDX’s Market Performance
SNDX’s stock has seen a -2.62% decrease for the week, with a -0.66% drop in the past month and a -22.49% fall in the past quarter. The volatility ratio for the week is 3.01%, and the volatility levels for the past 30 days are at 4.09% for Syndax Pharmaceuticals Inc The simple moving average for the last 20 days is -1.84% for SNDX stock, with a simple moving average of -14.10% for the last 200 days.
Analysts’ Opinion of SNDX
Many brokerage firms have already submitted their reports for SNDX stocks, with Jefferies repeating the rating for SNDX by listing it as a “Buy.” The predicted price for SNDX in the upcoming period, according to Jefferies is $37 based on the research report published on June 28, 2024 of the current year 2024.
Scotiabank, on the other hand, stated in their research note that they expect to see SNDX reach a price target of $23, previously predicting the price at $36. The rating they have provided for SNDX stocks is “Sector Perform” according to the report published on January 31st, 2024.
Mizuho gave a rating of “Buy” to SNDX, setting the target price at $45 in the report published on December 22nd of the previous year.
SNDX Trading at -6.19% from the 50-Day Moving Average
After a stumble in the market that brought SNDX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -28.18% of loss for the given period.
Volatility was left at 4.09%, however, over the last 30 days, the volatility rate increased by 3.01%, as shares surge +1.17% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -19.82% lower at present.
During the last 5 trading sessions, SNDX fell by -2.62%, which changed the moving average for the period of 200-days by -13.09% in comparison to the 20-day moving average, which settled at $18.54. In addition, Syndax Pharmaceuticals Inc saw -15.78% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at SNDX starting from Goldan Keith A., who purchase 1,250 shares at the price of $20.03 back on Jun 14 ’24. After this action, Goldan Keith A. now owns 52,623 shares of Syndax Pharmaceuticals Inc, valued at $25,037 using the latest closing price.
Stock Fundamentals for SNDX
Current profitability levels for the company are sitting at:
- -71.36 for the present operating margin
- 0.93 for the gross margin
The net margin for Syndax Pharmaceuticals Inc stands at -65.43. The total capital return value is set at -0.66. Equity return is now at value -63.30, with -58.15 for asset returns.
Based on Syndax Pharmaceuticals Inc (SNDX), the company’s capital structure generated 0.0 points at debt to capital in total, while cash flow to debt ratio is standing at -213.45. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is -3096.67.
Currently, EBITDA for the company is -229.94 million with net debt to EBITDA at 0.37. When we switch over and look at the enterprise to sales, we see a ratio of 357.9. The receivables turnover for the company is 0.37for trailing twelve months and the total asset turnover is 0.01. The liquidity ratio also appears to be rather interesting for investors as it stands at 10.50.
Conclusion
In conclusion, Syndax Pharmaceuticals Inc (SNDX) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
