HC Wainwright Has Negative Outlook of SNDX FY2029 Earnings

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) – Stock analysts at HC Wainwright cut their FY2029 EPS estimates for shares of Syndax Pharmaceuticals in a research note issued to investors on Wednesday, August 5th. HC Wainwright analyst A. Maldonado now forecasts that the company will post earnings per share of $2.28 for the year, down from their prior forecast of $2.59. HC Wainwright currently has a “Buy” rating and a $38.00 target price on the stock. The consensus estimate for Syndax Pharmaceuticals’ current full-year earnings is ($1.65) per share. HC Wainwright also issued estimates for Syndax Pharmaceuticals’ FY2030 earnings at $3.16 EPS.

SNDX has been the topic of a number of other research reports. Bank of America reissued a “buy” rating on shares of Syndax Pharmaceuticals in a report on Wednesday. Barclays increased their price objective on shares of Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, May 1st. Weiss Ratings downgraded Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Finally, UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. Twelve investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $42.36.

Syndax Pharmaceuticals Stock Up 4.4%

Syndax Pharmaceuticals stock opened at $19.92 on Thursday. Syndax Pharmaceuticals has a one year low of $12.10 and a one year high of $25.59. The stock has a fifty day moving average of $20.41 and a 200 day moving average of $21.37. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.06 and a current ratio of 5.47. The stock has a market cap of $1.77 billion, a PE ratio of -7.94 and a beta of 0.40.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Tuesday, August 4th. The company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.45) by ($0.10). The firm had revenue of $72.79 million for the quarter, compared to the consensus estimate of $79.36 million. Syndax Pharmaceuticals had a negative net margin of 87.52% and a negative return on equity of 298.76%. Syndax Pharmaceuticals’s quarterly revenue was up 91.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.83) earnings per share.

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC lifted its stake in shares of Syndax Pharmaceuticals by 192.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after purchasing an additional 1,922 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Syndax Pharmaceuticals during the 3rd quarter worth approximately $53,000. Smartleaf Asset Management LLC increased its position in shares of Syndax Pharmaceuticals by 2,698.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after acquiring an additional 2,564 shares during the period. Lazard Asset Management LLC purchased a new stake in Syndax Pharmaceuticals during the 2nd quarter valued at about $66,000. Finally, Tower Research Capital LLC TRC increased its holdings in Syndax Pharmaceuticals by 103.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after buying an additional 4,308 shares during the period.

Insider Transactions at Syndax Pharmaceuticals

In related news, CEO Michael A. Metzger sold 32,375 shares of Syndax Pharmaceuticals stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.24, for a total transaction of $784,770.00. Following the completion of the sale, the chief executive officer owned 484,843 shares in the company, valued at $11,752,594.32. This trade represents a 6.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $18.00, for a total transaction of $617,040.00. Following the transaction, the chief marketing officer directly owned 60,885 shares in the company, valued at approximately $1,095,930. This trade represents a 36.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 105,914 shares of company stock worth $2,120,789. Company insiders own 4.80% of the company’s stock.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.