Syndax Pharmaceuticals (NASDAQ:SNDX) Shares Gap Down – What’s Next?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) shares gapped down prior to trading on Tuesday . The stock had previously closed at $21.78, but opened at $16.27. Syndax Pharmaceuticals shares last traded at $16.69, with a volume of 2,373,487 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group increased their target price on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. UBS Group assumed coverage on Syndax Pharmaceuticals in a research report on Thursday, October 24th. They set a “buy” rating and a $37.00 price target on the stock. HC Wainwright raised their price objective on Syndax Pharmaceuticals from $47.00 to $49.00 and gave the company a “buy” rating in a report on Tuesday. StockNews.com raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, November 7th. Finally, Bank of America increased their target price on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Syndax Pharmaceuticals Trading Up 2.6 %

The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -4.58 and a beta of 0.92. The stock’s fifty day moving average price is $18.99 and its 200-day moving average price is $20.27.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted 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 period last year, the business earned ($0.73) EPS. Analysts predict that Syndax Pharmaceuticals, Inc. will post -3.61 earnings per share for the current year.

Institutional Investors Weigh In On Syndax Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Swiss National Bank increased its holdings in Syndax Pharmaceuticals by 5.8% in the 1st quarter. Swiss National Bank now owns 150,600 shares of the company’s stock valued at $3,584,000 after purchasing an additional 8,200 shares during the last quarter. Sei Investments Co. increased its stake in Syndax Pharmaceuticals by 2.5% during the first quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock worth $963,000 after purchasing an additional 991 shares during the period. ProShare Advisors LLC lifted its position in shares of Syndax Pharmaceuticals by 29.6% during the first quarter. ProShare Advisors LLC now owns 20,112 shares of the company’s stock worth $479,000 after purchasing an additional 4,599 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Syndax Pharmaceuticals by 13.6% in the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after purchasing an additional 591,631 shares during the period. Finally, Ameritas Investment Partners Inc. grew its holdings in shares of Syndax Pharmaceuticals by 20.0% in the first quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock valued at $187,000 after purchasing an additional 1,312 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).