Syndax Pharmaceuticals (SNDX) Sees Unusually-High Trading Volume

Syndax Pharmaceuticals Inc (NASDAQ:SNDX) shares saw an uptick in trading volume on Friday . 104,900 shares changed hands during mid-day trading, an increase of 5% from the previous session’s volume of 100,233 shares.The stock last traded at $8.71 and had previously closed at $8.85.

A number of brokerages have recently issued reports on SNDX. B. Riley began coverage on Syndax Pharmaceuticals in a report on Friday. They issued a “buy” rating and a $40.00 target price for the company. Zacks Investment Research cut Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating and eight have given a buy rating to the company. Syndax Pharmaceuticals has an average rating of “Buy” and an average price target of $25.00.

The stock has a market capitalization of $232.44 and a price-to-earnings ratio of -3.37.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.68) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.80) by $0.12. Syndax Pharmaceuticals had a negative return on equity of 57.90% and a negative net margin of 4,304.34%. The firm had revenue of $0.31 million during the quarter, compared to analysts’ expectations of $0.30 million. During the same period last year, the firm posted ($0.84) EPS. The business’s revenue was up .0% on a year-over-year basis. analysts expect that Syndax Pharmaceuticals Inc will post -3.03 EPS for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in Syndax Pharmaceuticals by 7.3% during the 2nd quarter. FMR LLC now owns 1,341,644 shares of the company’s stock valued at $18,743,000 after purchasing an additional 91,328 shares in the last quarter. Vanguard Group Inc. increased its holdings in Syndax Pharmaceuticals by 25.1% during the 2nd quarter. Vanguard Group Inc. now owns 512,624 shares of the company’s stock valued at $7,161,000 after purchasing an additional 102,700 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Syndax Pharmaceuticals by 11,266.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 439,070 shares of the company’s stock valued at $6,134,000 after purchasing an additional 435,207 shares in the last quarter. Alyeska Investment Group L.P. increased its holdings in Syndax Pharmaceuticals by 1.8% during the 3rd quarter. Alyeska Investment Group L.P. now owns 330,910 shares of the company’s stock valued at $3,872,000 after purchasing an additional 5,910 shares in the last quarter. Finally, Artal Group S.A. increased its holdings in Syndax Pharmaceuticals by 50.0% during the 2nd quarter. Artal Group S.A. now owns 300,000 shares of the company’s stock valued at $4,191,000 after purchasing an additional 100,000 shares in the last quarter. 61.65% of the stock is owned by hedge funds and other institutional investors.

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Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.

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