Syndax Pharmaceuticals (NASDAQ:SNDX) Trading 4.7% Higher - Still a Buy?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report)'s share price shot up 4.7% on Wednesday . The stock traded as high as $12.68 and last traded at $12.58. 115,632 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,513,379 shares. The stock had previously closed at $12.01.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SNDX. Citigroup lowered their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating for the company in a research report on Tuesday, March 4th. JPMorgan Chase & Co. upped their target price on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. HC Wainwright reissued a "buy" rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, March 4th. Scotiabank cut their target price on 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, StockNews.com upgraded Syndax Pharmaceuticals to a "sell" rating in a research report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $36.20.

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Syndax Pharmaceuticals Stock Performance

The firm's 50-day moving average price is $14.13 and its two-hundred day moving average price is $15.65. The firm has a market cap of $945.88 million, a PE ratio of -3.03 and a beta of 1.28.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last issued its quarterly earnings data on Monday, March 3rd. The company reported ($1.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.79). The business had revenue of $7.68 million during the quarter, compared to the consensus estimate of $86.32 million. As a group, sell-side analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 earnings per share for the current fiscal year.

Insider Transactions at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, insider Neil Gallagher sold 4,618 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $71,579.00. Following the completion of the sale, the insider now directly owns 85,095 shares of the company's stock, valued at approximately $1,318,972.50. This trade represents a 5.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael A. Metzger sold 13,288 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $205,964.00. Following the completion of the transaction, the chief executive officer now directly owns 300,121 shares in the company, valued at approximately $4,651,875.50. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,683 shares of company stock worth $336,087. Insiders own 4.10% of the company's stock.

Institutional Investors Weigh In On Syndax Pharmaceuticals

Several hedge funds have recently modified their holdings of SNDX. Charles Schwab Investment Management Inc. raised its position in Syndax Pharmaceuticals by 6.3% during the 3rd 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 during the last quarter. FMR LLC raised its holdings in Syndax Pharmaceuticals by 33.6% during the third quarter. FMR LLC now owns 49,248 shares of the company's stock worth $948,000 after purchasing an additional 12,377 shares in the last quarter. Quantbot Technologies LP purchased a new position in Syndax Pharmaceuticals during the third quarter worth about $49,000. BNP Paribas Financial Markets lifted its position in Syndax Pharmaceuticals by 375.6% in the third quarter. BNP Paribas Financial Markets now owns 21,099 shares of the company's stock valued at $406,000 after purchasing an additional 16,663 shares during the period. Finally, Stifel Financial Corp purchased a new stake in Syndax Pharmaceuticals in the 3rd quarter valued at approximately $327,000.

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).