Syndax Pharmaceuticals (NASDAQ:SNDX) Stock Price Expected to Rise, HC Wainwright Analyst Says

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) had its target price lifted by investment analysts at HC Wainwright from $45.00 to $47.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. HC Wainwright's price objective would indicate a potential upside of 120.14% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a "buy" rating in a research report on Friday, August 16th. UBS Group initiated coverage on Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a "buy" rating and a $37.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Syndax Pharmaceuticals from $34.00 to $33.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. Stifel Nicolaus increased their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Finally, Barclays boosted their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.10.

Syndax Pharmaceuticals Price Performance

SNDX stock traded up $1.66 during trading hours on Wednesday, reaching $21.35. The stock had a trading volume of 3,839,712 shares, compared to its average volume of 1,064,934. Syndax Pharmaceuticals has a fifty-two week low of $13.14 and a fifty-two week high of $25.34. The stock has a market capitalization of $1.82 billion, a PE ratio of -6.32 and a beta of 0.92. The stock has a 50-day simple moving average of $19.06 and a 200 day simple moving average of $20.32.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, beating the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same quarter last year, the company posted ($0.73) earnings per share. On average, sell-side analysts forecast that Syndax Pharmaceuticals will post -3.66 EPS for the current fiscal year.

Institutional Trading of Syndax Pharmaceuticals

Hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. purchased a new position in Syndax Pharmaceuticals during the second quarter valued at approximately $27,000. Values First Advisors Inc. purchased a new stake in Syndax Pharmaceuticals during the 3rd quarter valued at about $30,000. nVerses Capital LLC acquired a new position in shares of Syndax Pharmaceuticals during the 2nd quarter worth approximately $33,000. Mirae Asset Global Investments Co. Ltd. increased its position in Syndax Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company's stock worth $58,000 after purchasing an additional 541 shares during the last quarter. Finally, Quarry LP raised its position in shares of Syndax Pharmaceuticals by 75.0% during the 2nd quarter. Quarry LP now owns 6,125 shares of the company's stock valued at $126,000 after buying an additional 2,625 shares during the period.

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).