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Syndax Pharmaceuticals (NASDAQ:SNDX) Trading Up 4.9% - Should You Buy?

Syndax Pharmaceuticals logo with Medical background

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) were up 4.9% on Thursday . The company traded as high as $10.25 and last traded at $10.62. Approximately 45,166 shares traded hands during trading, a decline of 97% from the average daily volume of 1,775,258 shares. The stock had previously closed at $10.12.

Analyst Ratings Changes

A number of analysts have recently weighed in on SNDX shares. Citigroup decreased their price target on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. Wall Street Zen upgraded Syndax Pharmaceuticals to a "sell" rating in a research note on Tuesday, May 6th. Scotiabank raised their target price on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. raised their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Finally, Guggenheim reiterated a "buy" rating and issued a $32.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 6th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $35.91.

Read Our Latest Analysis on Syndax Pharmaceuticals

Syndax Pharmaceuticals Stock Down 0.5%

The business has a 50-day simple moving average of $11.49 and a two-hundred day simple moving average of $13.44. The stock has a market capitalization of $909.52 million, a P/E ratio of -2.91 and a beta of 0.82.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last announced its earnings results on Monday, May 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.04) by $0.06. The business had revenue of $20.04 million for the quarter, compared to the consensus estimate of $15.88 million. Syndax Pharmaceuticals's revenue for the quarter was up 1900.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.85) EPS. On average, sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of hedge funds have recently modified their holdings of SNDX. Quarry LP acquired a new stake in shares of Syndax Pharmaceuticals during the first quarter worth about $25,000. R Squared Ltd bought a new position in Syndax Pharmaceuticals in the fourth quarter valued at approximately $26,000. Virtus ETF Advisers LLC grew its stake in Syndax Pharmaceuticals by 18.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 5,278 shares of the company's stock valued at $70,000 after purchasing an additional 827 shares in the last quarter. Cape Investment Advisory Inc. grew its stake in Syndax Pharmaceuticals by 157.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 6,427 shares of the company's stock valued at $85,000 after purchasing an additional 3,927 shares in the last quarter. Finally, KBC Group NV grew its stake in Syndax Pharmaceuticals by 104.8% in the fourth quarter. KBC Group NV now owns 6,954 shares of the company's stock valued at $92,000 after purchasing an additional 3,559 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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