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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) rose 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 Upgrades and Downgrades

SNDX has been the topic of several recent analyst reports. HC Wainwright reiterated a “buy” rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. The Goldman Sachs Group increased their price objective on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Stifel Nicolaus raised their price target on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a report on Monday, October 14th. Finally, StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $36.90.

Syndax Pharmaceuticals Stock Up 5.6 %

The firm has a market capitalization of $1.13 billion, a PE ratio of -3.64 and a beta of 0.86. The stock’s fifty day simple moving average is $16.25 and its 200 day simple moving average is $18.87.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.13) by $0.15. The company had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $9.16 million. During the same quarter last year, the company earned ($0.73) earnings per share. On average, analysts predict that Syndax Pharmaceuticals, Inc. will post -2.39 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNDX. State Street Corp increased its holdings in Syndax Pharmaceuticals by 4.1% in the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after acquiring an additional 148,491 shares in the last quarter. Sofinnova Investments Inc. boosted its position in shares of Syndax Pharmaceuticals by 33.9% in the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after purchasing an additional 545,129 shares during the period. Geode Capital Management LLC boosted its position in shares of Syndax Pharmaceuticals by 3.5% in the third quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after purchasing an additional 66,459 shares during the period. Franklin Resources Inc. increased its stake in shares of Syndax Pharmaceuticals by 13.4% in the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after purchasing an additional 208,043 shares in the last quarter. Finally, First Turn Management LLC raised its position in shares of Syndax Pharmaceuticals by 85.4% during the 3rd quarter. First Turn Management LLC now owns 1,187,165 shares of the company’s stock valued at $22,853,000 after purchasing an additional 546,776 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).