Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Gap Down – Time to Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) gapped down prior to trading on Friday . The stock had previously closed at $14.23, but opened at $13.48. Syndax Pharmaceuticals shares last traded at $13.47, with a volume of 34,784 shares.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SNDX shares. Citigroup increased their price target on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. UBS Group started coverage on Syndax Pharmaceuticals in a research report on Thursday, October 24th. They set a “buy” rating and a $37.00 target price on the stock. The Goldman Sachs Group lifted their price target on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their price objective on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Stifel Nicolaus lifted their target price on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 14th. 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.64.

Syndax Pharmaceuticals Stock Up 3.4 %

The firm has a market capitalization of $1.19 billion, a PE ratio of -3.84 and a beta of 0.86. The business has a 50-day moving average price of $17.81 and a 200-day moving average price of $19.46.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (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 analysts’ expectations of $9.16 million. During the same quarter in the previous year, the company earned ($0.73) earnings per share. On average, equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current year.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors have recently made changes to their positions in SNDX. SG Americas Securities LLC acquired a new position in Syndax Pharmaceuticals in the second quarter valued at about $637,000. Assenagon Asset Management S.A. lifted its holdings in shares of Syndax Pharmaceuticals by 54.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock worth $8,806,000 after acquiring an additional 151,021 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Syndax Pharmaceuticals by 18.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company’s stock worth $5,991,000 after purchasing an additional 46,463 shares during the period. Peregrine Capital Management LLC increased its holdings in Syndax Pharmaceuticals by 1.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 198,659 shares of the company’s stock valued at $4,078,000 after purchasing an additional 2,580 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in Syndax Pharmaceuticals in the second quarter valued at approximately $33,000.

About Syndax Pharmaceuticals

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).