Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Gap Up – Should You Buy?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shares gapped up before the market opened on Thursday . The stock had previously closed at $14.65, but opened at $16.15. Syndax Pharmaceuticals shares last traded at $15.98, with a volume of 692,522 shares trading hands.

Analyst Ratings Changes

SNDX has been the topic of a number of research reports. Citigroup raised their price target on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Stifel Nicolaus boosted their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th. 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. boosted their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Trading Down 1.9 %

The business’s fifty day simple moving average is $14.09 and its 200-day simple moving average is $17.54.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.13) by $0.15. The company had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.16 million. During the same period last year, the company earned ($0.73) EPS. As a group, equities research analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Syndax Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after purchasing an additional 541 shares in the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at about $27,000. Values First Advisors Inc. bought a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at about $30,000. E Fund Management Co. Ltd. grew its position in Syndax Pharmaceuticals by 14.4% in the fourth quarter. E Fund Management Co. Ltd. now owns 12,603 shares of the company’s stock worth $167,000 after acquiring an additional 1,583 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its stake in Syndax Pharmaceuticals by 10.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 18,099 shares of the company’s stock worth $239,000 after acquiring an additional 1,732 shares during the last quarter.

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).