Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Down 2.6% – Here’s Why

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) traded down 2.6% on Tuesday . The company traded as low as $12.94 and last traded at $12.97. 881,625 shares changed hands during 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

A number of brokerages recently issued reports on SNDX. The Goldman Sachs Group raised their price objective on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Stifel Nicolaus lifted their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Citigroup upped their target price on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price objective on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, StockNews.com lowered shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.90.

Syndax Pharmaceuticals Trading Down 1.8 %

The stock has a market capitalization of $1.12 billion, a P/E ratio of -3.60 and a beta of 0.86. The company’s fifty day simple moving average is $17.17 and its 200 day simple moving average is $19.21.

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

Hedge Funds Weigh In On Syndax Pharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new position in Syndax Pharmaceuticals during the 2nd quarter valued at about $27,000. Values First Advisors Inc. purchased a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter worth approximately $30,000. nVerses Capital LLC purchased a new position in Syndax Pharmaceuticals during the second quarter valued at $33,000. Quantbot Technologies LP bought a new stake in Syndax Pharmaceuticals in the third quarter worth $49,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 valued at $58,000 after acquiring an additional 541 shares in the last quarter.

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).