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

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

Analysts Set New Price Targets

Several equities research analysts have commented on the company. StockNews.com lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. Scotiabank reduced their target price on 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. JPMorgan Chase & Co. increased their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Citigroup increased their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Finally, UBS Group initiated coverage on Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a “buy” rating and a $37.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

Syndax Pharmaceuticals Price Performance

The company has a market capitalization of $1.05 billion, a P/E ratio of -3.38 and a beta of 0.89. The company has a fifty day moving average price of $15.41 and a 200 day moving average price of $18.53.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15. The firm had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same period last year, the business earned ($0.73) EPS. On average, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -2.39 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SNDX. Assenagon Asset Management S.A. boosted its stake in shares of 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 valued at $27,292,000 after buying an additional 1,598,428 shares during the period. Franklin Resources Inc. grew its position in Syndax Pharmaceuticals by 13.4% in the third quarter. Franklin Resources Inc. now owns 1,763,277 shares of the company’s stock worth $34,948,000 after acquiring an additional 208,043 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Syndax Pharmaceuticals during the 3rd quarter worth $595,000. Geode Capital Management LLC lifted its stake in shares of Syndax Pharmaceuticals by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,977,082 shares of the company’s stock valued at $38,066,000 after purchasing an additional 66,459 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Syndax Pharmaceuticals by 143.4% in the third quarter. Barclays PLC now owns 187,629 shares of the company’s stock worth $3,612,000 after purchasing an additional 110,535 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).