Syndax Pharmaceuticals (NASDAQ:SNDX) Trading Up 4.1% – Here’s What Happened

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price shot up 4.1% on Tuesday . The stock traded as high as $13.06 and last traded at $13.03. 1,044,891 shares traded hands during trading, a decline of 19% from the average session volume of 1,289,302 shares. The stock had previously closed at $12.52.

Analyst Ratings Changes

A number of analysts have issued reports on SNDX shares. JPMorgan Chase & Co. raised their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. The Goldman Sachs Group raised their price objective on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. HC Wainwright reiterated a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. Stifel Nicolaus raised their price target on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Finally, Citigroup boosted their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.90.

Syndax Pharmaceuticals Stock Up 4.0 %

The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of -3.59 and a beta of 0.86. The business has a fifty day simple moving average of $16.48 and a two-hundred day simple moving average of $18.96.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.13) by $0.15. The company had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same period in the prior year, the firm earned ($0.73) EPS. As a group, equities analysts predict that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of SNDX. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Syndax Pharmaceuticals by 21.3% in the third 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. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at approximately $27,000. Values First Advisors Inc. bought a new position in Syndax Pharmaceuticals in the 3rd quarter worth approximately $30,000. nVerses Capital LLC acquired a new position in Syndax Pharmaceuticals during the 2nd quarter worth $33,000. Finally, Inspire Investing LLC boosted its position in Syndax Pharmaceuticals by 15.0% in the 2nd quarter. Inspire Investing LLC now owns 17,290 shares of the company’s stock valued at $355,000 after buying an additional 2,258 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).