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

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) rose 4.9% during trading 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

Several equities analysts recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays increased their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. cut their price target on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. StockNews.com upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, November 7th. Finally, HC Wainwright raised their price objective on shares of Syndax Pharmaceuticals from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.00.

Syndax Pharmaceuticals Stock Up 1.6 %

The firm has a fifty day simple moving average of $18.99 and a 200-day simple moving average of $20.27. The company has a market cap of $1.44 billion, a PE ratio of -4.77 and a beta of 0.92.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.15. The firm had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $9.16 million. During the same period in the previous year, the business posted ($0.73) EPS. Equities research analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.61 earnings per share 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. Assenagon Asset Management S.A. lifted its position in Syndax Pharmaceuticals by 54.3% in the second quarter. Assenagon Asset Management S.A. now owns 428,949 shares of the company’s stock valued at $8,806,000 after purchasing an additional 151,021 shares during the period. Bank of New York Mellon Corp lifted its position in Syndax Pharmaceuticals by 18.9% in the second quarter. Bank of New York Mellon Corp now owns 291,826 shares of the company’s stock valued at $5,991,000 after purchasing an additional 46,463 shares during the period. Renaissance Technologies LLC lifted its position in Syndax Pharmaceuticals by 170.9% in the second quarter. Renaissance Technologies LLC now owns 214,300 shares of the company’s stock valued at $4,400,000 after purchasing an additional 135,200 shares during the period. First Turn Management LLC acquired a new stake in Syndax Pharmaceuticals in the second quarter valued at about $13,147,000. Finally, Inspire Investing LLC lifted its position in Syndax Pharmaceuticals by 23.2% in the third quarter. Inspire Investing LLC now owns 21,308 shares of the company’s stock valued at $410,000 after purchasing an additional 4,018 shares during the period.

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).