Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Up 9.5% – Time to Buy?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shares rose 9.5% on Monday . The stock traded as high as $22.05 and last traded at $22.1660. Approximately 1,140,483 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 1,281,450 shares. The stock had previously closed at $20.25.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SNDX shares. HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. Barclays raised their price target on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the stock an “overweight” rating in a research report on Monday, November 24th. BTIG Research reissued a “buy” rating and issued a $56.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 9th. Wall Street Zen lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday, January 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $37.20.

Syndax Pharmaceuticals Trading Up 5.7%

The company has a market cap of $1.86 billion, a P/E ratio of -5.93 and a beta of 0.48. The business’s 50-day moving average price is $20.20 and its 200 day moving average price is $16.28. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.The company had revenue of $45.87 million during the quarter, compared to analysts’ expectations of $49.08 million. During the same period last year, the firm posted ($0.98) earnings per share. The business’s revenue was up 266.4% on a year-over-year basis. As a group, analysts expect that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC lifted its holdings in Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after purchasing an additional 1,922 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of Syndax Pharmaceuticals during the 3rd quarter worth approximately $53,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Syndax Pharmaceuticals by 26.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,223 shares of the company’s stock worth $89,000 after purchasing an additional 893 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at approximately $66,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Syndax Pharmaceuticals by 103.3% in the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock valued at $79,000 after buying an additional 4,308 shares during the period.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.