Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Gap Up – What’s Next?

Shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) gapped up before the market opened on Thursday . The stock had previously closed at $14.65, but opened at $16.15. Syndax Pharmaceuticals shares last traded at $15.98, with a volume of 692,522 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Citigroup raised their target price on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Scotiabank lowered their price target on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus raised their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. lifted their target price on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, StockNews.com downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. One equities 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’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

Syndax Pharmaceuticals Price Performance

The business’s fifty day moving average price is $14.09 and its two-hundred day moving average price is $17.54.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same period in the previous year, the business earned ($0.73) EPS. On average, sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of large investors have recently modified their holdings of SNDX. Northwestern Mutual Wealth Management Co. acquired a new stake in Syndax Pharmaceuticals in the 2nd quarter worth approximately $27,000. Values First Advisors Inc. acquired a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at $30,000. R Squared Ltd purchased a new position in Syndax Pharmaceuticals in the 4th quarter worth $26,000. Quantbot Technologies LP purchased a new stake in Syndax Pharmaceuticals in the third quarter valued at approximately $49,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in Syndax Pharmaceuticals by 21.3% during the 3rd 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 during the period.

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).