Syndax Pharmaceuticals (NASDAQ:SNDX) Hits New 52-Week Low – Time to Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $14.60 and last traded at $14.75, with a volume of 516175 shares traded. The stock had previously closed at $15.56.

Wall Street Analyst Weigh In

SNDX has been the topic of several research reports. The Goldman Sachs Group increased their price target on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays raised their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. UBS Group started coverage on Syndax Pharmaceuticals in a report on Thursday, October 24th. They set a “buy” rating and a $37.00 price target on the stock. StockNews.com cut Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.64.

Syndax Pharmaceuticals Stock Down 4.8 %

The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -3.92 and a beta of 0.86. The stock has a fifty day moving average of $18.01 and a 200-day moving average of $19.55.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned ($0.73) earnings per share. On average, equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -2.39 EPS for the current fiscal year.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in SNDX. Mirae Asset Global Investments Co. Ltd. grew its stake in 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 buying an additional 541 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Syndax Pharmaceuticals in the 2nd quarter valued at $27,000. Values First Advisors Inc. acquired a new stake in Syndax Pharmaceuticals during the 3rd quarter worth $30,000. nVerses Capital LLC purchased a new position in Syndax Pharmaceuticals during the 2nd quarter worth $33,000. Finally, Inspire Investing LLC increased its stake in Syndax Pharmaceuticals by 15.0% in the second quarter. Inspire Investing LLC now owns 17,290 shares of the company’s stock valued at $355,000 after purchasing an additional 2,258 shares during the period.

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).