Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Up 9.8% – Should You Buy?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s share price traded up 9.8% on Wednesday . The stock traded as high as $21.30 and last traded at $22.3320. 717,410 shares were traded during mid-day trading, a decline of 41% from the average session volume of 1,208,228 shares. The stock had previously closed at $20.34.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SNDX shares. JPMorgan Chase & Co. cut their target price on Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 12th. UBS Group boosted their price objective on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Wall Street Zen raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, January 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Monday, December 29th. Finally, HC Wainwright restated a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.20.

Syndax Pharmaceuticals Trading Down 1.8%

The firm has a fifty day moving average of $19.22 and a 200 day moving average of $15.38. The company has a current ratio of 4.64, a quick ratio of 4.42 and a debt-to-equity ratio of 2.78.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Monday, November 3rd. The company reported ($0.70) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.04. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.The company had revenue of $45.87 million for the quarter, compared to the consensus estimate of $49.08 million. During the same period in the previous year, the business earned ($0.98) EPS. Syndax Pharmaceuticals’s revenue for the quarter was up 266.4% compared to the same quarter last year. On average, equities analysts forecast that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SNDX. SG Americas Securities LLC increased its position in shares of Syndax Pharmaceuticals by 184.5% in the fourth quarter. SG Americas Securities LLC now owns 129,227 shares of the company’s stock worth $2,715,000 after acquiring an additional 83,801 shares in the last quarter. Diversified Trust Co. bought a new position in Syndax Pharmaceuticals during the fourth quarter valued at about $233,000. Wealth Enhancement Advisory Services LLC boosted its position in Syndax Pharmaceuticals by 56.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,195 shares of the company’s stock worth $411,000 after purchasing an additional 7,310 shares during the period. Velan Capital Investment Management LP bought a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter worth $2,000,000. Finally, Scientech Research LLC acquired a new position in shares of Syndax Pharmaceuticals during the 3rd quarter worth about $475,000.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.