Syndax Pharmaceuticals (NASDAQ:SNDX) Hits New 12-Month Low – Time to Sell?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX)’s share price reached 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 changing hands. The stock had previously closed at $12.80.

Analysts Set New Price Targets

Several research firms have recently weighed in on SNDX. HC Wainwright reissued a “buy” rating and issued a $51.00 target price on shares of Syndax Pharmaceuticals in a report on Tuesday, December 10th. Citigroup boosted their target price on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. StockNews.com downgraded Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a 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 for the company in a report on Wednesday, January 8th. Finally, The Goldman Sachs Group boosted their target price on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $36.20.

Syndax Pharmaceuticals Trading Up 1.6 %

The company has a 50 day simple moving average of $15.10 and a 200 day simple moving average of $18.43. The stock has a market capitalization of $1.11 billion, a PE ratio of -3.58 and a beta of 0.89.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million for the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the previous year, the firm posted ($0.73) EPS. On average, equities research analysts predict that Syndax Pharmaceuticals, Inc. will post -3.71 EPS for the current year.

Hedge Funds Weigh In On Syndax Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Simplify Asset Management Inc. grew its holdings in shares of Syndax Pharmaceuticals by 62.5% in the 3rd quarter. Simplify Asset Management Inc. now owns 122,185 shares of the company’s stock worth $2,352,000 after acquiring an additional 46,992 shares during the period. Franklin Resources Inc. grew its holdings in shares of Syndax Pharmaceuticals by 13.4% in the 3rd 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 during the period. State Street Corp grew its holdings in shares of Syndax Pharmaceuticals by 4.1% in the 3rd quarter. State Street Corp now owns 3,770,826 shares of the company’s stock worth $72,588,000 after acquiring an additional 148,491 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Syndax Pharmaceuticals by 6.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 695,947 shares of the company’s stock worth $13,397,000 after acquiring an additional 41,458 shares during the period. Finally, Barclays PLC grew its holdings in shares of Syndax Pharmaceuticals by 143.4% in the 3rd quarter. Barclays PLC now owns 187,629 shares of the company’s stock worth $3,612,000 after acquiring an additional 110,535 shares during the period.

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).