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

Syndax Pharmaceuticals (NASDAQ:SNDX) released its quarterly earnings data on Thursday. The company reported ($0.80) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.91) by $0.11, Briefing.com reports. The business had revenue of $3.50 million during the quarter. During the same period in the previous year, the business posted ($0.64) earnings per share. Syndax Pharmaceuticals’s revenue for the quarter was up 3499999990.0% compared to the same quarter last year.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX traded down $0.96 during midday trading on Friday, hitting $21.04. The company’s stock had a trading volume of 1,665,606 shares, compared to its average volume of 1,118,992. Syndax Pharmaceuticals has a fifty-two week low of $11.22 and a fifty-two week high of $25.34. The firm’s 50 day moving average is $21.14 and its 200-day moving average is $21.76. The firm has a market cap of $1.79 billion, a P/E ratio of -6.53 and a beta of 0.94.

Insider Transactions at Syndax Pharmaceuticals

In related news, CFO Keith A. Goldan purchased 1,250 shares of Syndax Pharmaceuticals stock in a transaction dated Friday, June 14th. The shares were acquired at an average price of $20.03 per share, for a total transaction of $25,037.50. Following the acquisition, the chief financial officer now directly owns 52,623 shares in the company, valued at $1,054,038.69. The purchase was disclosed in a filing with the SEC, which is available through this link. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on SNDX shares. Scotiabank lowered shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. 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 report on Thursday, May 9th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $34.00 price target on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 21st. Jefferies Financial Group began coverage on shares of Syndax Pharmaceuticals in a research report on Friday, June 28th. They set a “buy” rating and a $37.00 price target for the company. Finally, Stifel Nicolaus increased their price target on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $34.73.

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).