Syndax Pharmaceuticals (NASDAQ:SNDX) Trading Up 3.6% - Time to Buy?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Get Free Report) shares shot up 3.6% on Monday . The company traded as high as $11.56 and last traded at $11.95. 33,962 shares changed hands during trading, a decline of 98% from the average session volume of 1,577,569 shares. The stock had previously closed at $11.54.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SNDX. JPMorgan Chase & Co. raised their price target on shares of Syndax Pharmaceuticals from $39.00 to $41.00 and gave the company an "overweight" rating in a research note on Thursday, March 20th. Scotiabank lowered their target price on Syndax Pharmaceuticals from $18.00 to $16.00 and set a "sector perform" rating for the company in a research report on Wednesday, January 8th. HC Wainwright reaffirmed a "buy" rating and set a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. StockNews.com raised Syndax Pharmaceuticals to a "sell" rating in a research note on Thursday, April 10th. Finally, Citigroup cut their price objective on Syndax Pharmaceuticals from $45.00 to $42.00 and set a "buy" rating on the stock in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $36.20.

Syndax Pharmaceuticals Price Performance

The business's fifty day simple moving average is $13.08 and its 200 day simple moving average is $14.89. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -3.67 and a beta of 1.28.

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

Insider Activity

In related news, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $205,964.00. Following the transaction, the chief executive officer now directly owns 300,121 shares in the company, valued at $4,651,875.50. This trade represents a 4.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Keith A. Goldan sold 3,777 shares of the business's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $58,543.50. Following the sale, the chief financial officer now owns 90,746 shares of the company's stock, valued at $1,406,563. This trade represents a 4.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,683 shares of company stock worth $336,087 over the last quarter. 4.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Stifel Financial Corp bought a new position in shares of Syndax Pharmaceuticals in the third quarter valued at approximately $327,000. Barclays PLC raised its position in Syndax Pharmaceuticals by 143.4% in the 3rd 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. Franklin Resources Inc. lifted its stake in Syndax Pharmaceuticals by 13.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company's stock valued at $34,948,000 after acquiring an additional 208,043 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Syndax Pharmaceuticals by 343.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company's stock worth $27,292,000 after acquiring an additional 1,598,428 shares during the last quarter. Finally, Inspire Investing LLC grew its stake in shares of Syndax Pharmaceuticals by 44.5% in the 4th quarter. Inspire Investing LLC now owns 30,792 shares of the company's stock worth $407,000 after acquiring an additional 9,484 shares in 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).