Syndax Pharmaceuticals (NASDAQ:SNDX) Hits New 52-Week High – What’s Next?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $21.43 and last traded at $20.72, with a volume of 1693488 shares changing hands. The stock had previously closed at $20.88.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SNDX shares. HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Syndax Pharmaceuticals in a report on Monday, October 27th. JPMorgan Chase & Co. lowered their price target on shares of Syndax Pharmaceuticals from $40.00 to $33.00 and set an “overweight” rating for the company in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research note on Monday. Guggenheim assumed coverage on Syndax Pharmaceuticals in a research note on Thursday, September 4th. They issued a “buy” rating and a $34.00 target price on the stock. Finally, UBS Group lifted their target price on shares of Syndax Pharmaceuticals from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.20.

Syndax Pharmaceuticals Trading Down 0.8%

The company has a debt-to-equity ratio of 2.78, a quick ratio of 4.42 and a current ratio of 4.64. The company has a market cap of $1.80 billion, a P/E ratio of -5.74 and a beta of 0.48. The stock has a 50-day moving average of $16.94 and a two-hundred day moving average of $14.11.

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

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors have recently bought and sold shares of SNDX. Quarry LP purchased a new position in Syndax Pharmaceuticals in the first quarter worth about $25,000. Larson Financial Group LLC increased its position in shares of Syndax Pharmaceuticals by 192.2% during the third quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock valued at $45,000 after acquiring an additional 1,922 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Syndax Pharmaceuticals during the third quarter valued at approximately $53,000. Lazard Asset Management LLC purchased a new position in Syndax Pharmaceuticals in the 2nd quarter worth approximately $66,000. Finally, Tower Research Capital LLC TRC lifted its position 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 valued at $79,000 after acquiring an additional 4,308 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).