Syndax Pharmaceuticals (NASDAQ:SNDX) Hits New 12-Month Low – Should You Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $12.75 and last traded at $12.96, with a volume of 437384 shares. The stock had previously closed at $13.07.

Analyst Ratings Changes

SNDX has been the topic of several analyst reports. Citigroup lifted 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. UBS Group initiated coverage on Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a “buy” rating and a $37.00 price objective for the company. StockNews.com cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. JPMorgan Chase & Co. upped their price target on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Stifel Nicolaus raised their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.90.

Syndax Pharmaceuticals Trading Down 1.7 %

The firm has a market cap of $1.10 billion, a P/E ratio of -3.54 and a beta of 0.86. The stock has a 50 day simple moving average of $16.90 and a 200-day simple moving average of $19.12.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same quarter in the prior year, the firm posted ($0.73) EPS. As a group, equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Syndax Pharmaceuticals during the 3rd quarter valued at approximately $15,165,000. Eventide Asset Management LLC bought a new position in Syndax Pharmaceuticals during the third quarter valued at $15,150,000. First Turn Management LLC purchased a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at $13,147,000. Sofinnova Investments Inc. lifted its holdings in shares of Syndax Pharmaceuticals by 33.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after acquiring an additional 545,129 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Syndax Pharmaceuticals by 56.3% during the 2nd quarter. Millennium Management LLC now owns 1,065,508 shares of the company’s stock worth $21,875,000 after purchasing an additional 383,634 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).