Syndax Pharmaceuticals Inc (NASDAQ:SNDX) saw strong trading volume on Wednesday . 2,542,051 shares were traded during mid-day trading, an increase of 499% from the previous session’s volume of 424,281 shares.The stock last traded at $13.58 and had previously closed at $10.58.
Several research analysts have issued reports on the company. B. Riley reiterated a “buy” rating and issued a $40.00 price objective on shares of Syndax Pharmaceuticals in a research report on Thursday, January 18th. BidaskClub upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Zacks Investment Research upgraded Syndax Pharmaceuticals from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a research report on Wednesday, January 10th. Finally, Morgan Stanley cut their price objective on Syndax Pharmaceuticals from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Syndax Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $24.25.
The company has a market cap of $331.22 and a price-to-earnings ratio of -4.70.
Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Monday, March 5th. The company reported ($0.80) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by ($0.04). The firm had revenue of $1.19 million during the quarter, compared to analyst estimates of $0.75 million. Syndax Pharmaceuticals had a negative net margin of 1,601.34% and a negative return on equity of 76.23%. Syndax Pharmaceuticals’s revenue for the quarter was up 290.2% compared to the same quarter last year. analysts anticipate that Syndax Pharmaceuticals Inc will post -3.38 earnings per share for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund boosted its stake in shares of Syndax Pharmaceuticals by 421.9% during the second quarter. New York State Common Retirement Fund now owns 9,400 shares of the company’s stock valued at $131,000 after acquiring an additional 7,599 shares during the last quarter. HighPoint Advisor Group LLC acquired a new stake in shares of Syndax Pharmaceuticals during the fourth quarter valued at $102,000. Trexquant Investment LP acquired a new stake in shares of Syndax Pharmaceuticals during the third quarter valued at $133,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Syndax Pharmaceuticals during the third quarter valued at $154,000. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Syndax Pharmaceuticals during the second quarter valued at $192,000. 70.35% of the stock is currently owned by institutional investors.
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Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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