Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Down 2.6% – Time to Sell?

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) traded down 2.6% during trading on Tuesday . The stock traded as low as $12.94 and last traded at $12.97. 881,625 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 1,270,277 shares. The stock had previously closed at $13.31.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNDX. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. UBS Group started coverage on shares of Syndax Pharmaceuticals in a report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Citigroup lifted their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Finally, Stifel Nicolaus boosted their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.90.

Syndax Pharmaceuticals Stock Performance

The firm’s 50-day moving average price is $17.17 and its two-hundred day moving average price is $19.21. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of -3.60 and a beta of 0.86.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.15. The company had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the prior year, the company posted ($0.73) earnings per share. As a group, sell-side analysts expect that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new position in Syndax Pharmaceuticals in the second quarter valued at approximately $27,000. Values First Advisors Inc. acquired a new position in Syndax Pharmaceuticals in the 3rd quarter valued at about $30,000. nVerses Capital LLC acquired a new stake in shares of Syndax Pharmaceuticals during the second quarter worth $33,000. Quantbot Technologies LP purchased a new position in Syndax Pharmaceuticals in the 3rd quarter valued at $49,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in Syndax Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after acquiring an additional 541 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).