Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Gap Up to $18.16

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) gapped up prior to trading on Friday . The stock had previously closed at $18.16, but opened at $18.83. Syndax Pharmaceuticals shares last traded at $18.76, with a volume of 68,040 shares traded.

Wall Street Analyst Weigh In

Several analysts have commented on SNDX shares. Scotiabank lowered shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, June 14th. HC Wainwright lifted their price target on shares of Syndax Pharmaceuticals from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Citigroup upped their price objective on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Barclays upped their price target on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 15th. Finally, Jefferies Financial Group started coverage on Syndax Pharmaceuticals in a research note on Friday, June 28th. They set a “buy” rating and a $37.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $35.33.

Syndax Pharmaceuticals Price Performance

The company’s 50-day simple moving average is $20.16 and its two-hundred day simple moving average is $20.99. The firm has a market capitalization of $1.61 billion, a P/E ratio of -5.87 and a beta of 0.91.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.11. The firm had revenue of $3.50 million during the quarter. During the same period in the prior year, the firm posted ($0.64) EPS. Syndax Pharmaceuticals’s revenue for the quarter was up 3499999990.0% on a year-over-year basis. Analysts predict that Syndax Pharmaceuticals, Inc. will post -3.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SNDX. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Syndax Pharmaceuticals during the 2nd quarter valued at approximately $234,000. Quarry LP grew its position in Syndax Pharmaceuticals by 75.0% in the second quarter. Quarry LP now owns 6,125 shares of the company’s stock worth $126,000 after acquiring an additional 2,625 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in Syndax Pharmaceuticals during the second quarter worth approximately $27,000. Creative Planning raised its position in Syndax Pharmaceuticals by 27.4% during the second quarter. Creative Planning now owns 18,428 shares of the company’s stock valued at $378,000 after purchasing an additional 3,962 shares during the period. Finally, Clearline Capital LP bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at approximately $866,000.

About Syndax Pharmaceuticals

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).