Syndax Pharmaceuticals (NASDAQ:SNDX) Trading 9.8% Higher – Should You Buy?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shares traded up 9.8% on Wednesday . The company traded as high as $21.30 and last traded at $22.3320. 717,410 shares were traded during mid-day trading, a decline of 41% from the average session volume of 1,208,228 shares. The stock had previously closed at $20.34.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SNDX shares. HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. Barclays raised their target price on Syndax Pharmaceuticals from $22.00 to $35.00 and gave the company an “overweight” rating in a research note on Monday, November 24th. Stifel Nicolaus assumed coverage on Syndax Pharmaceuticals in a research note on Wednesday, September 10th. They issued a “buy” rating and a $44.00 price target on the stock. JPMorgan Chase & Co. cut their price target on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating on the stock in a report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.20.

Syndax Pharmaceuticals Trading Up 8.2%

The firm has a market cap of $1.91 billion, a P/E ratio of -6.10 and a beta of 0.48. The company has a 50 day moving average of $18.74 and a 200 day moving average of $15.21. The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, November 3rd. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.74) by $0.04. The firm had revenue of $45.87 million during the quarter, compared to analyst estimates of $49.08 million. Syndax Pharmaceuticals had a negative return on equity of 160.60% and a negative net margin of 279.31%.The company’s revenue for the quarter was up 266.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.98) EPS. Analysts predict that Syndax Pharmaceuticals, Inc. will post -3.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNDX. Larson Financial Group LLC lifted its holdings in shares of Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after acquiring an additional 1,922 shares during the period. Quantbot Technologies LP bought a new position in shares of Syndax Pharmaceuticals in the 3rd quarter worth $53,000. Lazard Asset Management LLC acquired a new stake in Syndax Pharmaceuticals during the 2nd quarter worth $66,000. Tower Research Capital LLC TRC boosted its stake in Syndax Pharmaceuticals by 103.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after purchasing an additional 4,308 shares during the period. Finally, Prudential Financial Inc. bought a new position in shares of Syndax Pharmaceuticals during the 2nd quarter worth approximately $97,000.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.