Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Gap Down – Should You Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) gapped down before the market opened on Friday . The stock had previously closed at $14.23, but opened at $13.48. Syndax Pharmaceuticals shares last traded at $13.47, with a volume of 34,784 shares traded.

Analyst Ratings Changes

Several research firms have commented on SNDX. UBS Group initiated coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a “buy” rating and a $37.00 price objective for the company. Citigroup boosted 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. HC Wainwright reiterated a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday. Bank of America boosted their price target on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.64.

Syndax Pharmaceuticals Stock Down 0.7 %

The company has a 50 day moving average of $17.91 and a 200 day moving average of $19.51.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The firm had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $9.16 million. During the same quarter last year, the business earned ($0.73) earnings per share. Equities analysts predict that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of SNDX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Syndax Pharmaceuticals during the 3rd quarter valued at about $15,165,000. Eventide Asset Management LLC purchased a new position in Syndax Pharmaceuticals during the 3rd quarter valued at about $15,150,000. First Turn Management LLC purchased a new position in Syndax Pharmaceuticals during the 2nd quarter valued at about $13,147,000. Sofinnova Investments Inc. raised its position in Syndax Pharmaceuticals by 33.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock valued at $44,215,000 after purchasing an additional 545,129 shares in the last quarter. Finally, Millennium Management LLC raised its position in Syndax Pharmaceuticals by 56.3% in the 2nd quarter. Millennium Management LLC now owns 1,065,508 shares of the company’s stock valued at $21,875,000 after purchasing an additional 383,634 shares in the last quarter.

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).