Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Up 4.1% - What's Next?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report)'s stock price rose 4.1% during mid-day trading on Tuesday . The company traded as high as $13.06 and last traded at $13.03. Approximately 1,044,891 shares traded hands during mid-day trading, a decline of 19% from the average daily volume of 1,289,302 shares. The stock had previously closed at $12.52.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SNDX shares. Stifel Nicolaus increased their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Monday, October 14th. JPMorgan Chase & Co. raised their target price 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. UBS Group started coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a "buy" rating and a $37.00 price target on the stock. Citigroup raised their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Finally, StockNews.com cut Syndax Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Saturday, November 23rd. One research 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $36.90.

Syndax Pharmaceuticals Stock Performance

The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -3.64 and a beta of 0.86. The stock's 50-day moving average price is $16.36 and its 200-day moving average price is $18.91.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last posted its earnings results 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 firm had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same period last year, the company posted ($0.73) EPS. Analysts anticipate that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Hedge funds have recently bought and sold shares of the stock. Simplify Asset Management Inc. boosted its stake in shares of Syndax Pharmaceuticals by 62.5% during the third quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company's stock valued at $2,352,000 after acquiring an additional 46,992 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Syndax Pharmaceuticals by 13.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company's stock valued at $34,948,000 after purchasing an additional 208,043 shares in the last quarter. State Street Corp boosted its stake in shares of Syndax Pharmaceuticals by 4.1% during the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company's stock worth $72,588,000 after purchasing an additional 148,491 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Syndax Pharmaceuticals by 6.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company's stock worth $13,397,000 after buying an additional 41,458 shares in the last quarter. Finally, Barclays PLC raised its position in shares of Syndax Pharmaceuticals by 143.4% in the third quarter. Barclays PLC now owns 187,629 shares of the company's stock valued at $3,612,000 after buying an additional 110,535 shares during 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).