Syndax Pharmaceuticals (SNDX) Issues Quarterly Earnings Results

Syndax Pharmaceuticals (NASDAQ:SNDX) posted its quarterly earnings data on Monday. The company reported ($0.68) earnings per share for the quarter, topping the consensus estimate of ($0.76) by $0.08, Morningstar.com reports. Syndax Pharmaceuticals had a negative net margin of 3,190.51% and a negative return on equity of 80.35%. The firm had revenue of $0.38 million for the quarter, compared to analysts’ expectations of $0.38 million.

Syndax Pharmaceuticals stock opened at $4.86 on Tuesday. Syndax Pharmaceuticals has a 12 month low of $4.36 and a 12 month high of $15.20. The firm has a market cap of $119.58 million, a PE ratio of -1.68 and a beta of 2.63.

Several equities analysts have weighed in on the stock. HC Wainwright assumed coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, July 12th. They set a “buy” rating and a $30.00 price objective on the stock. Zacks Investment Research cut shares of Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Citigroup lowered their price objective on shares of Syndax Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, October 11th. Morgan Stanley cut shares of Syndax Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $6.00 price objective on the stock. in a research report on Monday, October 29th. Finally, ValuEngine upgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, November 1st. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $18.20.

Several institutional investors have recently bought and sold shares of SNDX. The Manufacturers Life Insurance Company boosted its holdings in Syndax Pharmaceuticals by 266.9% in the first quarter. The Manufacturers Life Insurance Company now owns 10,566 shares of the company’s stock worth $151,000 after purchasing an additional 7,686 shares in the last quarter. Rhumbline Advisers bought a new stake in Syndax Pharmaceuticals in the second quarter worth $103,000. DRW Securities LLC bought a new stake in Syndax Pharmaceuticals in the second quarter worth $105,000. Bank of America Corp DE boosted its holdings in Syndax Pharmaceuticals by 1,382.0% in the second quarter. Bank of America Corp DE now owns 28,084 shares of the company’s stock worth $197,000 after purchasing an additional 26,189 shares in the last quarter. Finally, Spark Investment Management LLC bought a new stake in Syndax Pharmaceuticals in the second quarter worth $198,000. Institutional investors and hedge funds own 64.38% of the company’s stock.

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About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapies for various cancer indications. The company's lead product candidate is Entinostat, which is in Phase 3 clinical trial for the treatment of hormone receptor positive or HR+, human epidermal growth factor receptor 2 negative or HER2-, and breast cancer; and Phase 1b/2 clinical trial.

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Earnings History for Syndax Pharmaceuticals (NASDAQ:SNDX)

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