Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Down 5.3%

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s share price fell 5.3% during mid-day trading on Monday . The stock traded as low as $18.07 and last traded at $18.11. 358,265 shares were traded during mid-day trading, a decline of 67% from the average session volume of 1,078,578 shares. The stock had previously closed at $19.12.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SNDX shares. JPMorgan Chase & Co. dropped their target price on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Bank of America increased their target price on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. HC Wainwright lifted their target price on Syndax Pharmaceuticals from $41.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Barclays upped their price target on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Finally, Scotiabank downgraded Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $35.33.

Syndax Pharmaceuticals Price Performance

The firm has a market capitalization of $1.53 billion, a PE ratio of -5.59 and a beta of 0.91. The firm has a 50-day simple moving average of $20.91 and a 200-day simple moving average of $21.23.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.11. The company had revenue of $3.50 million for the quarter. During the same quarter in the previous year, the business earned ($0.64) EPS. The business’s quarterly revenue was up 3499999990.0% compared to the same quarter last year. Equities analysts expect that Syndax Pharmaceuticals, Inc. will post -3.66 earnings per share for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds have recently modified their holdings of the company. Sei Investments Co. boosted its stake in shares of Syndax Pharmaceuticals by 2.5% in the first quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock worth $963,000 after acquiring an additional 991 shares during the period. California State Teachers Retirement System boosted its stake in Syndax Pharmaceuticals by 1.5% in the 1st quarter. California State Teachers Retirement System now owns 76,557 shares of the company’s stock worth $1,822,000 after purchasing an additional 1,150 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in Syndax Pharmaceuticals during the 2nd quarter valued at approximately $27,000. Ameritas Investment Partners Inc. raised its position in shares of Syndax Pharmaceuticals by 20.0% during the first quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock valued at $187,000 after buying an additional 1,312 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its position in shares of Syndax Pharmaceuticals by 158.3% during the fourth 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 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).