Syndax Pharmaceuticals (NASDAQ:SNDX) Reaches New 1-Year Low - Here's Why

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) shares hit a new 52-week low on Tuesday . The company traded as low as $12.36 and last traded at $12.40, with a volume of 121520 shares changing hands. The stock had previously closed at $12.80.

Wall Street Analysts Forecast Growth

SNDX has been the subject of several research reports. HC Wainwright restated a "buy" rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. StockNews.com cut Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Saturday, November 23rd. The Goldman Sachs Group lifted their price objective on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a "buy" rating in a report on Thursday, November 7th. Scotiabank cut their target price on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $36.20.

Syndax Pharmaceuticals Stock Performance

The stock has a market cap of $1.08 billion, a PE ratio of -3.47 and a beta of 0.89. The firm has a fifty day moving average price of $15.41 and a 200 day moving average price of $18.53.

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 analysts' consensus estimates of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to analysts' expectations of $9.16 million. During the same quarter last year, the business posted ($0.73) earnings per share. On average, equities research analysts forecast that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current year.

Institutional Trading of Syndax Pharmaceuticals

Several large investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Syndax Pharmaceuticals in the second quarter worth about $27,000. Values First Advisors Inc. purchased a new position in Syndax Pharmaceuticals during the 3rd quarter worth approximately $30,000. Quantbot Technologies LP purchased a new stake in shares of Syndax Pharmaceuticals in the 3rd quarter valued at $49,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 worth $58,000 after acquiring an additional 541 shares during the period. Finally, Quarry LP grew its position in Syndax Pharmaceuticals by 75.0% during the 2nd quarter. Quarry LP now owns 6,125 shares of the company's stock worth $126,000 after purchasing 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).