Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Gap Up – Here’s What Happened

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) gapped up prior to trading on Thursday . The stock had previously closed at $14.65, but opened at $16.15. Syndax Pharmaceuticals shares last traded at $15.98, with a volume of 692,522 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SNDX shares. Citigroup raised their price objective on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Scotiabank lowered their price target on shares of 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. HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. UBS Group began coverage on Syndax Pharmaceuticals in a report on Thursday, October 24th. They set a “buy” rating and a $37.00 target price on the stock. Finally, Stifel Nicolaus increased their price target on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a report on Monday, October 14th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.20.

Syndax Pharmaceuticals Stock Up 9.5 %

The business’s 50-day simple moving average is $14.10 and its two-hundred day simple moving average is $17.55. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of -4.42 and a beta of 0.90.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The firm had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $9.16 million. During the same period in the previous year, the firm earned ($0.73) EPS. Sell-side analysts anticipate that Syndax Pharmaceuticals, Inc. will post -3.71 earnings per share for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Syndax Pharmaceuticals in the second quarter valued at approximately $27,000. Values First Advisors Inc. purchased a new position in Syndax Pharmaceuticals in the 3rd quarter valued at approximately $30,000. R Squared Ltd acquired a new position in shares of Syndax Pharmaceuticals in the fourth quarter worth $26,000. Quantbot Technologies LP purchased a new stake in shares of Syndax Pharmaceuticals during the third quarter worth $49,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Syndax Pharmaceuticals by 21.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock valued at $58,000 after acquiring an additional 541 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).