Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Gap Down - Time to Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $14.23, but opened at $13.48. Syndax Pharmaceuticals shares last traded at $13.47, with a volume of 34,784 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SNDX shares. The Goldman Sachs Group increased their price target on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. HC Wainwright reaffirmed a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a research report on Tuesday. StockNews.com lowered Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, November 23rd. Citigroup raised their price objective on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, November 19th. Finally, UBS Group initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, October 24th. They set a "buy" rating and a $37.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.64.

Syndax Pharmaceuticals Stock Up 3.4 %

The firm has a market capitalization of $1.19 billion, a P/E ratio of -3.84 and a beta of 0.86. The company's 50 day moving average is $17.81 and its 200-day moving average is $19.46.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its 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 firm had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same period in the previous year, the firm earned ($0.73) earnings per share. On average, analysts predict that Syndax Pharmaceuticals, Inc. will post -2.39 EPS for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 valued at $58,000 after buying an additional 541 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at about $27,000. Values First Advisors Inc. bought a new position in shares of Syndax Pharmaceuticals during the third quarter valued at about $30,000. nVerses Capital LLC purchased a new position in Syndax Pharmaceuticals during the second quarter worth about $33,000. Finally, Inspire Investing LLC grew its position in Syndax Pharmaceuticals by 15.0% in the 2nd quarter. Inspire Investing LLC now owns 17,290 shares of the company's stock worth $355,000 after purchasing an additional 2,258 shares in 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).