As of Thursday, Syndax Pharmaceuticals Inc.’s (NASDAQ:SNDX) stock closed at $22.70, up from $20.99 the previous day. While Syndax Pharmaceuticals Inc. has overperformed by 8.15%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, SNDX rose by 63.66%, with highs and lows ranging from $22.71 to $13.27, whereas the simple moving average jumped by 29.12% in the last 200 days.
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On July 28, 2022, B. Riley Securities started tracking Syndax Pharmaceuticals Inc. (NASDAQ: SNDX) recommending Buy. A report published by H.C. Wainwright on April 11, 2022, Initiated its previous ‘Buy’ rating for SNDX. Goldman also rated SNDX shares as ‘Buy’, setting a target price of $37 on the company’s shares in an initiating report dated February 15, 2022. Robert W. Baird Initiated an Outperform rating on June 04, 2021, and assigned a price target of $31. Citigroup initiated its ‘Buy’ rating for SNDX, as published in its report on May 25, 2021. B. Riley Securities’s report from February 18, 2021 suggests a price prediction of $30 for SNDX shares, giving the stock a ‘Buy’ rating. Stifel also rated the stock as ‘Buy’.
Analysis of Syndax Pharmaceuticals Inc. (SNDX)
Further, the quarter-over-quarter increase in sales is 33297.40%, showing a positive trend in the upcoming months.
One of the most important indicators of Syndax Pharmaceuticals Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of 5.20% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 13.70, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and SNDX is recording 621.84K average volume. On a monthly basis, the volatility of the stock is set at 5.29%, whereas on a weekly basis, it is put at 5.92%, with a gain of 7.38% over the past seven days. Furthermore, long-term investors anticipate a median target price of $31.43, showing growth from the present price of $22.70, which can serve as yet another indication of whether SNDX is worth investing in or should be passed over.
How Do You Analyze Syndax Pharmaceuticals Inc. Shares?
The Biotechnology market is dominated by Syndax Pharmaceuticals Inc. (SNDX) based in the USA. When comparing Syndax Pharmaceuticals Inc. shares with other companies under Healthcare, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 153.38, there is a growth in quarterly earnings of -17.10%.
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.60%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 96.13% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in SNDX shares?
The recent increase in stakes in SNDX appears to be a result of several institutional investors and hedge funds increasing their positions. Avidity Partners Management LP’s position in SNDX has decreased by 0.00% in the first quarter. The company now owns 4,823,400 shares of the stock, with a value of $92.8 million, following the sale of 0 additional shares during the last quarter. BlackRock Fund Advisors made another increased to its shares in SNDX during the first quarter, upping its stake by 4.16%. During the last quarter, the company dropped down 128,875 additional shares for a total stake of worth $62.08 million, bringing number of shares owned by the company to 3,226,600.
During the first quarter, Nantahala Capital Management LLC subtracted a -158,256 position in SNDX. BVF Partners LP purchased an additional 0.29 million shares in the last quarter, increasing its holdings by 14.05%, now holding 2.39 million shares worth $46.07 million. At the end of the first quarter, SSgA Funds Management, Inc. decreased its SNDX holdings by -4.03% and now holds 2.38 million SNDX shares valued at $45.8 million with the lessened 99867.0 shares during the period. SNDX shares are owned by institutional investors to the tune of 96.13% at present.
