Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Up 4.7% – Should You Buy?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shares shot up 4.7% on Wednesday . The company traded as high as $12.68 and last traded at $12.58. 115,632 shares changed hands during trading, a decline of 92% from the average session volume of 1,513,379 shares. The stock had previously closed at $12.01.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SNDX shares. StockNews.com upgraded Syndax Pharmaceuticals to a “sell” rating in a research report on Wednesday. HC Wainwright reiterated a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, March 4th. Scotiabank lowered their price target on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th. Citigroup reduced their price objective on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. increased their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an “overweight” rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Stock Down 3.9 %

The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of -3.43 and a beta of 0.92. The firm’s 50 day moving average is $14.19 and its 200 day moving average is $15.73.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79). The firm had revenue of $7.68 million during the quarter, compared to the consensus estimate of $86.32 million. On average, sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Neil Gallagher sold 4,618 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $71,579.00. Following the completion of the sale, the insider now owns 85,095 shares in the company, valued at $1,318,972.50. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael A. Metzger sold 13,288 shares of Syndax Pharmaceuticals stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the transaction, the chief executive officer now owns 300,121 shares in the company, valued at $4,651,875.50. This represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its holdings in shares of Syndax Pharmaceuticals by 343.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock worth $27,292,000 after purchasing an additional 1,598,428 shares during the period. Soleus Capital Management L.P. lifted its position in Syndax Pharmaceuticals by 128.4% in the 4th quarter. Soleus Capital Management L.P. now owns 2,492,000 shares of the company’s stock worth $32,944,000 after buying an additional 1,401,016 shares in the last quarter. Octagon Capital Advisors LP acquired a new stake in shares of Syndax Pharmaceuticals during the 4th quarter valued at $11,951,000. Renaissance Technologies LLC purchased a new position in shares of Syndax Pharmaceuticals during the 4th quarter valued at $9,002,000. Finally, Trexquant Investment LP increased its stake in shares of Syndax Pharmaceuticals by 1,309.7% in the fourth quarter. Trexquant Investment LP now owns 471,292 shares of the company’s stock worth $6,230,000 after acquiring an additional 437,859 shares during the last quarter.

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).