Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) is one of the stocks that are grabbing investor focus today: skyrocketing 9.82% or (0.97 points) to $10.9 from its previous close of $9.93. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 146523 contracts so far this session. SNDX shares had a relatively better volume day versus average trading capacity of 139.65 thousand shares, but with a 27.1 million float and a 12.97% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for SNDX stock indicates that the average analyst price target is $17.71 per share. This means the stock has a potential increase of 62.48% from where the SNDX share price has been trading recently which is between $9.71 and $10.38. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $5.
The shorts are running away from Syndax Pharmaceuticals, Inc. (SNDX) stock. The latest set of short interest data was released on 31 July 2019, and the numbers show a drop in short interest in SNDX shares. While short interest still represents only 2.59% of SNDX’s float, the number of shares shorted have fallen by -53811. The number of shares shorted fell to 646826 shares, down from 700637 shares during the preceding fortnight. With average daily trading volumes at 97851 shares, days to cover increased to about 5.377973 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “3 Hot Healthcare Stocks That Wont Break the Bank” and dated August 12, 2019.
During the recent trading session for Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX), the company witnessed their stock rise $1.63 over a week and surge $1.67 from the price 20 days ago. When compared to their established 52-week high of $11, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 08/13/19. The recent low of $3.39 stood for a 2.11% since 12/26/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.35 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Syndax Pharmaceuticals, Inc., the two-week RSI stands at 71.34. This figure suggests that SNDX stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current SNDX readings is similarly very revealing as it has a stochastic reading of 78.29% at this stage. This figure means that SNDX share price today is being oversold.
Technical chart claims that Syndax Pharmaceuticals, Inc. (SNDX) would settle between $10.3/share to $10.68/share level. However, if the stock price goes below the $9.63 mark, then the market for Syndax Pharmaceuticals, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $9.34 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.55. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at H.C. Wainwright lifted target price for shares of SNDX but were stick to Buy recommendation for the stock in their opinion released on March 08. The price target has been raised from $22 to $16. Robert W. Baird, analysts launched coverage of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) stock with a Outperform recommendation, according to their flash note issued to investors on January 04. Analysts at B. Riley FBR, Inc., made their first call for the equity with a Buy recommendation, according to a research note that dated back to January 05.
SNDX equity has an average rating of 1.62, with the figure leaning towards a bullish end. 8 analysts who tracked the company were contacted by Reuters. Amongst them, 1 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 7 analysts rated Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, SNDX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 221.84 while for the average stock in the same group, the multiple is 6.25.
Syndax Pharmaceuticals, Inc. (SNDX)’s current-quarter revenues are projected to climb by nearly 2.63% to hit $0.39 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over -0.46% from $1.52 million to a noteworthy $1.51 million. At the other end of the current quarter income statement, Syndax Pharmaceuticals, Inc. is expected to see its adjusted earnings surge by roughly 25% to hit $-0.51 per share. For the fiscal year, SNDX’s earnings are projected to climb by roughly 32.19% to hit $-1.98 per share.