Syndax Pharmaceuticals (NASDAQ:SNDX) Reaches New 12-Month Low – Should You Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s share price hit a new 52-week low on Tuesday . The stock traded as low as $12.36 and last traded at $12.40, with a volume of 121520 shares. The stock had previously closed at $12.80.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SNDX. HC Wainwright reaffirmed a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, December 10th. Scotiabank cut their price target on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a report on Wednesday, January 8th. Stifel Nicolaus increased their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. StockNews.com downgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. Finally, Citigroup upped 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. One equities 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

Syndax Pharmaceuticals Stock Down 4.1 %

The stock has a market capitalization of $1.05 billion, a price-to-earnings ratio of -3.38 and a beta of 0.89. The company has a 50 day simple moving average of $15.41 and a 200-day simple moving average of $18.53.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.13) by $0.15. The company had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same quarter in the prior year, the business earned ($0.73) EPS. As a group, sell-side analysts anticipate that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current fiscal year.

Institutional Trading of Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of SNDX. State Street Corp boosted its position in Syndax Pharmaceuticals by 4.1% during the third quarter. State Street Corp now owns 3,770,826 shares of the company’s stock valued at $72,588,000 after buying an additional 148,491 shares during the period. Sofinnova Investments Inc. grew its holdings in Syndax Pharmaceuticals by 33.9% in the second quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after purchasing an additional 545,129 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Syndax Pharmaceuticals by 343.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,064,456 shares of the company’s stock valued at $27,292,000 after acquiring an additional 1,598,428 shares in the last quarter. Geode Capital Management LLC raised its holdings in Syndax Pharmaceuticals by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock worth $38,066,000 after acquiring an additional 66,459 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Syndax Pharmaceuticals by 13.4% during the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock valued at $34,948,000 after buying an additional 208,043 shares during 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).