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Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Down 3.7% - What's Next?

Syndax Pharmaceuticals logo with Medical background

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) dropped 3.7% during trading on Thursday . The company traded as low as $10.36 and last traded at $10.50. Approximately 230,731 shares traded hands during trading, a decline of 90% from the average daily volume of 2,205,677 shares. The stock had previously closed at $10.90.

Wall Street Analyst Weigh In

SNDX has been the topic of a number of recent analyst reports. Citigroup lowered their target price on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. Scotiabank lifted their target price on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the stock a "sector perform" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lifted their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a research note on Thursday, March 20th. Wall Street Zen upgraded Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. Finally, HC Wainwright reiterated a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $35.91.

View Our Latest Analysis on Syndax Pharmaceuticals

Syndax Pharmaceuticals Trading Down 3.9%

The firm has a fifty day moving average of $11.24 and a two-hundred day moving average of $13.03. The company has a market cap of $881.98 million, a PE ratio of -2.82 and a beta of 0.74.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported ($0.98) earnings per share for the quarter, beating analysts' consensus estimates of ($1.04) by $0.06. The company had revenue of $20.04 million for the quarter, compared to analysts' expectations of $15.88 million. The firm's quarterly revenue was up 1900.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.85) EPS. Sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Tang Capital Management LLC purchased a new position in Syndax Pharmaceuticals during the 4th quarter valued at about $1,322,000. Polar Asset Management Partners Inc. purchased a new position in Syndax Pharmaceuticals during the 4th quarter valued at about $1,124,000. Jump Financial LLC grew its holdings in Syndax Pharmaceuticals by 80.8% during the 4th quarter. Jump Financial LLC now owns 173,890 shares of the company's stock valued at $2,299,000 after buying an additional 77,699 shares in the last quarter. Simplify Asset Management Inc. grew its holdings in Syndax Pharmaceuticals by 20.8% during the 4th quarter. Simplify Asset Management Inc. now owns 147,641 shares of the company's stock valued at $1,952,000 after buying an additional 25,456 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Syndax Pharmaceuticals by 7.5% during the 4th quarter. Northern Trust Corp now owns 792,750 shares of the company's stock valued at $10,480,000 after buying an additional 55,144 shares in the last quarter.

About Syndax Pharmaceuticals

(Get Free Report)

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).

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