Syndax Pharmaceuticals (NASDAQ:SNDX) Trading Down 5.3%

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price traded down 5.3% during mid-day trading on Monday . The company traded as low as $18.07 and last traded at $18.11. 358,265 shares were traded during trading, a decline of 67% from the average session volume of 1,078,578 shares. The stock had previously closed at $19.12.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SNDX shares. Citigroup upped their target price on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Bank of America upped their price target on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays lifted their price objective on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. Jefferies Financial Group started coverage on Syndax Pharmaceuticals in a research note on Friday, June 28th. They issued a “buy” rating and a $37.00 target price on the stock. Finally, HC Wainwright raised their price target on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.33.

Syndax Pharmaceuticals Stock Down 0.3 %

The stock has a market cap of $1.53 billion, a PE ratio of -5.59 and a beta of 0.91. The business’s 50-day simple moving average is $20.91 and its 200-day simple moving average is $21.23.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.91) by $0.11. The business had revenue of $3.50 million for the quarter. The business’s revenue for the quarter was up 3499999990.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.64) earnings per share. As a group, equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNDX. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Syndax Pharmaceuticals during the second quarter valued at approximately $27,000. nVerses Capital LLC purchased a new position in Syndax Pharmaceuticals during the second quarter valued at $33,000. Quadrant Capital Group LLC boosted its holdings in Syndax Pharmaceuticals by 158.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock worth $53,000 after acquiring an additional 1,496 shares in the last quarter. Quarry LP grew its stake in shares of Syndax Pharmaceuticals by 75.0% in the second quarter. Quarry LP now owns 6,125 shares of the company’s stock worth $126,000 after acquiring an additional 2,625 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Syndax Pharmaceuticals by 28.4% in the first quarter. CANADA LIFE ASSURANCE Co now owns 7,182 shares of the company’s stock worth $171,000 after acquiring an additional 1,587 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).