Syndax Pharmaceuticals (NASDAQ:SNDX) Issues Earnings Results, Beats Expectations By $0.11 EPS

Syndax Pharmaceuticals (NASDAQ:SNDX) announced its quarterly earnings data on Wednesday. The company reported ($0.85) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.96) by $0.11, Briefing.com reports. During the same quarter in the prior year, the company posted ($0.59) earnings per share.

Syndax Pharmaceuticals Stock Performance

SNDX traded down $0.32 during trading on Thursday, hitting $22.06. The stock had a trading volume of 418,978 shares, compared to its average volume of 1,110,966. Syndax Pharmaceuticals has a twelve month low of $11.22 and a twelve month high of $25.34. The stock has a 50 day simple moving average of $22.47 and a two-hundred day simple moving average of $20.16. The company has a market capitalization of $1.87 billion, a PE ratio of -7.53 and a beta of 1.01.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Scotiabank cut Syndax Pharmaceuticals from a “sector outperform” rating to a “sector perform” rating and dropped their price objective for the company from $36.00 to $23.00 in a report on Wednesday, January 31st. JPMorgan Chase & Co. upped their price target on shares of Syndax Pharmaceuticals from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. HC Wainwright reiterated a “buy” rating and set a $41.00 price objective on shares of Syndax Pharmaceuticals in a report on Thursday. StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a research note on Friday, January 19th. Finally, Citigroup decreased their price target on shares of Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.42.

Syndax Pharmaceuticals Company Profile

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).