Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Up 4.9%

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s share price traded up 4.9% during trading on Wednesday . The company traded as high as $22.76 and last traded at $22.49. 94,026 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 1,192,540 shares. The stock had previously closed at $21.44.

Wall Street Analyst Weigh In

SNDX has been the subject of a number of research reports. JPMorgan Chase & Co. raised their target price on Syndax Pharmaceuticals from $31.00 to $34.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Scotiabank cut shares of Syndax Pharmaceuticals from a “sector outperform” rating to a “sector perform” rating and lowered their price objective for the company from $36.00 to $23.00 in a research report on Wednesday, January 31st. StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a research report on Friday, January 19th. Mizuho assumed coverage on shares of Syndax Pharmaceuticals in a research note on Friday, December 22nd. They set a “buy” rating and a $45.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $41.00 price objective on shares of Syndax Pharmaceuticals in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.42.

Syndax Pharmaceuticals Price Performance

The business’s 50 day simple moving average is $22.39 and its 200-day simple moving average is $18.59. The stock has a market capitalization of $2.02 billion, a P/E ratio of -8.04 and a beta of 1.03.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Tuesday, February 27th. The company reported ($1.00) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by ($0.01). During the same period last year, the company posted ($0.62) earnings per share. Research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNDX. CWM LLC raised its position in shares of Syndax Pharmaceuticals by 415.3% in the 4th quarter. CWM LLC now owns 1,685 shares of the company’s stock valued at $36,000 after acquiring an additional 1,358 shares during the period. MeadowBrook Investment Advisors LLC acquired a new stake in Syndax Pharmaceuticals in the fourth quarter worth $37,000. China Universal Asset Management Co. Ltd. raised its holdings in Syndax Pharmaceuticals by 97.6% in the third quarter. China Universal Asset Management Co. Ltd. now owns 1,782 shares of the company’s stock worth $26,000 after purchasing an additional 880 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of Syndax Pharmaceuticals during the first quarter worth $41,000. Finally, Quadrant Capital Group LLC grew its holdings in shares of Syndax Pharmaceuticals by 158.3% in the 4th quarter. Quadrant Capital Group LLC now owns 2,441 shares of the company’s stock valued at $53,000 after buying an additional 1,496 shares during the period.

About Syndax Pharmaceuticals

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).