Syndax Pharmaceuticals (NASDAQ:SNDX) Reaches New 1-Year Low – Should You Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $13.26 and last traded at $13.35, with a volume of 1818434 shares traded. The stock had previously closed at $13.63.

Analyst Upgrades and Downgrades

Several brokerages have commented on SNDX. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Stifel Nicolaus boosted their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. HC Wainwright restated a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday, December 10th. The Goldman Sachs Group raised their price objective on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group started coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a “buy” rating and a $37.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.64.

Syndax Pharmaceuticals Trading Up 1.8 %

The stock has a market capitalization of $1.12 billion, a PE ratio of -3.60 and a beta of 0.86. The firm has a 50 day moving average price of $17.42 and a 200 day moving average price of $19.29.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same quarter in the prior year, the firm posted ($0.73) EPS. On average, equities research analysts expect that Syndax Pharmaceuticals, Inc. will post -2.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SNDX. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Syndax Pharmaceuticals during the 2nd quarter worth about $27,000. Values First Advisors Inc. purchased a new position in shares of Syndax Pharmaceuticals during the third quarter valued at approximately $30,000. nVerses Capital LLC bought a new position in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $33,000. Quantbot Technologies LP purchased a new stake in shares of Syndax Pharmaceuticals in the third quarter worth approximately $49,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Syndax Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after acquiring an additional 541 shares during the last quarter.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).