Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Up 4.9% – Time to Buy?

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) were up 4.9% on Thursday . The stock traded as high as $17.46 and last traded at $17.45. Approximately 297,925 shares traded hands during trading, a decline of 73% from the average daily volume of 1,102,488 shares. The stock had previously closed at $16.63.

Analysts Set New Price Targets

SNDX has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target 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. The Goldman Sachs Group raised their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. dropped their price target on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. StockNews.com upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday. Finally, UBS Group initiated coverage on Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a “buy” rating and a $37.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Syndax Pharmaceuticals Trading Down 5.7 %

The stock has a fifty day simple moving average of $18.94 and a 200-day simple moving average of $20.25. The company has a market capitalization of $1.35 billion, a PE ratio of -4.36 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its 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 for the quarter, compared to analyst estimates of $9.16 million. During the same period last year, the business posted ($0.73) EPS. As a group, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.61 EPS for the current year.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors have recently modified their holdings of the stock. Swiss National Bank grew its position in shares of Syndax Pharmaceuticals by 5.8% in the 1st quarter. Swiss National Bank now owns 150,600 shares of the company’s stock valued at $3,584,000 after buying an additional 8,200 shares during the last quarter. Sei Investments Co. increased its position in shares of Syndax Pharmaceuticals by 2.5% during the first quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock worth $963,000 after purchasing an additional 991 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Syndax Pharmaceuticals by 29.6% in the 1st quarter. ProShare Advisors LLC now owns 20,112 shares of the company’s stock valued at $479,000 after purchasing an additional 4,599 shares during the period. Vanguard Group Inc. grew its stake in Syndax Pharmaceuticals by 13.6% during the 1st quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock worth $117,262,000 after buying an additional 591,631 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in Syndax Pharmaceuticals by 20.0% in the first quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock valued at $187,000 after buying an additional 1,312 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).