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

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) 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 traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a "buy" rating and issued a $51.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. Citigroup lifted their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Tuesday, November 19th. The Goldman Sachs Group increased their target price on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Scotiabank cut their price target on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating on the stock in a report on Wednesday, January 8th. Finally, UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a "buy" rating and a $37.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $36.20.

Syndax Pharmaceuticals Stock Down 2.5 %

The firm has a 50 day moving average of $14.06 and a 200-day moving average of $17.40. The company has a market cap of $1.29 billion, a P/E ratio of -4.17 and a beta of 0.90.

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of SNDX. The Manufacturers Life Insurance Company grew its stake in Syndax Pharmaceuticals by 16.1% in the second quarter. The Manufacturers Life Insurance Company now owns 48,668 shares of the company's stock valued at $999,000 after purchasing an additional 6,755 shares during the last quarter. Creative Planning grew its holdings in Syndax Pharmaceuticals by 27.4% during the second quarter. Creative Planning now owns 18,428 shares of the company's stock worth $378,000 after acquiring an additional 3,962 shares during the period. Northwestern Mutual Wealth Management Co. purchased a new stake in Syndax Pharmaceuticals during the second quarter worth $27,000. Inspire Investing LLC grew its position in shares of Syndax Pharmaceuticals by 23.2% during the 3rd quarter. Inspire Investing LLC now owns 21,308 shares of the company's stock valued at $410,000 after acquiring an additional 4,018 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in shares of Syndax Pharmaceuticals by 8.6% in the third quarter. Assenagon Asset Management S.A. now owns 466,028 shares of the company's stock valued at $8,971,000 after buying an additional 37,079 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).