Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Up 4.1% – Here’s What Happened

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shares were up 4.1% on Tuesday . The company traded as high as $13.06 and last traded at $13.03. Approximately 1,044,891 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 1,289,302 shares. The stock had previously closed at $12.52.

Analyst Ratings Changes

A number of research firms have commented on SNDX. Citigroup upped their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. UBS Group initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price target for the company. StockNews.com lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. HC Wainwright reissued a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. Finally, Stifel Nicolaus raised their target price on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.90.

Syndax Pharmaceuticals Stock Up 4.0 %

The business has a 50-day moving average of $16.48 and a 200-day moving average of $18.96. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -3.59 and a beta of 0.86.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.13) by $0.15. The firm had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same period in the previous year, the firm posted ($0.73) EPS. Equities analysts anticipate that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in Syndax Pharmaceuticals in the 2nd quarter worth approximately $27,000. Values First Advisors Inc. acquired a new stake in shares of Syndax Pharmaceuticals in the third quarter worth $30,000. nVerses Capital LLC bought a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter worth $33,000. Quantbot Technologies LP acquired a new position in Syndax Pharmaceuticals in the 3rd quarter valued at $49,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in Syndax Pharmaceuticals by 21.3% in the 3rd 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.

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).