Syndax Pharmaceuticals (NASDAQ:SNDX) Reaches New 1-Year Low - Should You Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $13.26 and last traded at $13.35, with a volume of 1818434 shares traded. The stock had previously closed at $13.63.

Analyst Ratings Changes

A number of equities analysts recently commented on SNDX shares. JPMorgan Chase & Co. lifted their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an "overweight" rating in a research report on Thursday, November 21st. The Goldman Sachs Group lifted their target price on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Stifel Nicolaus lifted their target price on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Citigroup lifted their target price on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, StockNews.com cut shares of Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, November 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.64.

Syndax Pharmaceuticals Stock Down 2.9 %

The firm's fifty day moving average price is $17.63 and its two-hundred day moving average price is $19.38. The stock has a market capitalization of $1.13 billion, a PE ratio of -3.65 and a beta of 0.86.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share 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 analysts' expectations of $9.16 million. During the same period in the previous year, the firm earned ($0.73) earnings per share. As a group, analysts predict that Syndax Pharmaceuticals, Inc. will post -2.39 EPS for the current year.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of SNDX. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of Syndax Pharmaceuticals in the third quarter worth $15,165,000. Eventide Asset Management LLC purchased a new stake in shares of Syndax Pharmaceuticals in the third quarter worth $15,150,000. First Turn Management LLC bought a new position in shares of Syndax Pharmaceuticals during the second quarter worth $13,147,000. Sofinnova Investments Inc. boosted its position in shares of Syndax Pharmaceuticals by 33.9% during the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company's stock worth $44,215,000 after acquiring an additional 545,129 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Syndax Pharmaceuticals by 56.3% during the second quarter. Millennium Management LLC now owns 1,065,508 shares of the company's stock worth $21,875,000 after acquiring an additional 383,634 shares during 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).

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