Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report)'s stock price rose 6.7% during trading on Wednesday . The stock traded as high as $9.25 and last traded at $9.34. Approximately 696,062 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 1,839,974 shares. The stock had previously closed at $8.75.
Analysts Set New Price Targets
Several research firms have issued reports on SNDX. Wall Street Zen upgraded shares of Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Guggenheim restated a "buy" rating and issued a $32.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. The Goldman Sachs Group began coverage on shares of Syndax Pharmaceuticals in a research note on Thursday. They issued a "buy" rating and a $18.00 price objective for the company. Finally, Scotiabank upped their price objective on shares of Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $34.30.
Get Our Latest Analysis on Syndax Pharmaceuticals
Syndax Pharmaceuticals Price Performance
The company has a current ratio of 5.80, a quick ratio of 5.75 and a debt-to-equity ratio of 1.53. The firm's fifty day moving average is $10.05 and its 200-day moving average is $12.30.
Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported ($0.98) EPS for the quarter, beating analysts' consensus estimates of ($1.04) by $0.06. The firm had revenue of $20.04 million during the quarter, compared to the consensus estimate of $15.88 million. Syndax Pharmaceuticals had a negative net margin of 757.53% and a negative return on equity of 101.60%. The firm's revenue was up 1900.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.85) earnings per share. As a group, sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.
Institutional Investors Weigh In On Syndax Pharmaceuticals
Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in Syndax Pharmaceuticals by 6.5% in the first quarter. Rhumbline Advisers now owns 120,810 shares of the company's stock valued at $1,484,000 after buying an additional 7,361 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Syndax Pharmaceuticals by 18.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 200,696 shares of the company's stock valued at $2,466,000 after buying an additional 30,596 shares in the last quarter. Zimmer Partners LP purchased a new position in Syndax Pharmaceuticals in the first quarter valued at about $2,619,000. Exome Asset Management LLC increased its holdings in Syndax Pharmaceuticals by 5.7% in the first quarter. Exome Asset Management LLC now owns 337,198 shares of the company's stock valued at $4,142,000 after buying an additional 18,298 shares in the last quarter. Finally, Caxton Associates LLP purchased a new position in Syndax Pharmaceuticals in the first quarter valued at about $257,000.
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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