HC Wainwright Weighs in on Syndax Pharmaceuticals, Inc.’s FY2024 Earnings (NASDAQ:SNDX)

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) – Equities research analysts at HC Wainwright decreased their FY2024 earnings estimates for Syndax Pharmaceuticals in a research report issued on Monday, July 29th. HC Wainwright analyst E. White now anticipates that the company will post earnings of ($4.07) per share for the year, down from their prior forecast of ($3.98). HC Wainwright currently has a “Buy” rating and a $41.00 target price on the stock. The consensus estimate for Syndax Pharmaceuticals’ current full-year earnings is ($3.55) per share. HC Wainwright also issued estimates for Syndax Pharmaceuticals’ Q4 2024 earnings at ($1.22) EPS and FY2026 earnings at ($2.70) EPS.

Several other research firms have also weighed in on SNDX. Scotiabank lowered shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $34.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 21st. Stifel Nicolaus upped their price objective on shares of Syndax Pharmaceuticals from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Jefferies Financial Group began coverage on shares of Syndax Pharmaceuticals in a research note on Friday, June 28th. They issued a “buy” rating and a $37.00 price objective on the stock. Finally, Citigroup dropped their price objective on shares of Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.73.

Syndax Pharmaceuticals Price Performance

SNDX stock opened at $21.04 on Thursday. Syndax Pharmaceuticals has a 52-week low of $11.22 and a 52-week high of $25.34. The company’s 50 day simple moving average is $21.15 and its 200-day simple moving average is $21.75. The firm has a market capitalization of $1.79 billion, a P/E ratio of -6.53 and a beta of 0.94.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.91) by $0.11. The firm had revenue of $3.50 million for the quarter. During the same quarter in the prior year, the company earned ($0.64) EPS. Syndax Pharmaceuticals’s revenue for the quarter was up 3499999990.0% compared to the same quarter last year.

Institutional Trading of Syndax Pharmaceuticals

Several large investors have recently modified their holdings of SNDX. BVF Inc. IL bought a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth $40,519,000. Avoro Capital Advisors LLC boosted its holdings in Syndax Pharmaceuticals by 65.2% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,222,222 shares of the company’s stock valued at $91,242,000 after purchasing an additional 1,666,667 shares during the period. Kynam Capital Management LP boosted its holdings in Syndax Pharmaceuticals by 41.5% in the 4th quarter. Kynam Capital Management LP now owns 5,660,000 shares of the company’s stock valued at $122,313,000 after purchasing an additional 1,660,000 shares during the period. Franklin Resources Inc. bought a new stake in Syndax Pharmaceuticals in the 4th quarter valued at $29,236,000. Finally, Avidity Partners Management LP boosted its holdings in Syndax Pharmaceuticals by 40.0% in the 4th quarter. Avidity Partners Management LP now owns 3,950,000 shares of the company’s stock valued at $85,360,000 after purchasing an additional 1,129,000 shares during the period.

Insider Transactions at Syndax Pharmaceuticals

In other news, CFO Keith A. Goldan acquired 1,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The stock was acquired at an average cost of $20.03 per share, with a total value of $25,037.50. Following the acquisition, the chief financial officer now owns 52,623 shares in the company, valued at $1,054,038.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by company insiders.

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).