Syndax Pharmaceuticals Inc (NASDAQ:SNDX) – Research analysts at B. Riley increased their FY2018 EPS estimates for Syndax Pharmaceuticals in a note issued to investors on Tuesday, November 6th. B. Riley analyst M. Kumar now anticipates that the company will earn ($2.95) per share for the year, up from their prior forecast of ($3.20). B. Riley also issued estimates for Syndax Pharmaceuticals’ Q1 2019 earnings at ($0.72) EPS, Q2 2019 earnings at ($0.54) EPS, Q3 2019 earnings at ($0.58) EPS, Q4 2019 earnings at ($0.53) EPS, FY2019 earnings at ($2.11) EPS, FY2020 earnings at ($1.52) EPS, FY2021 earnings at ($1.08) EPS and FY2022 earnings at ($0.43) EPS.
Syndax Pharmaceuticals (NASDAQ:SNDX) last released its earnings results on Monday, November 5th. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.76) by $0.08. Syndax Pharmaceuticals had a negative return on equity of 91.11% and a negative net margin of 3,185.75%. The business had revenue of $0.38 million for the quarter, compared to analyst estimates of $0.38 million.
Several other analysts have also issued reports on the company. Zacks Investment Research lowered Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday, September 13th. Citigroup dropped their target price on Syndax Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, October 11th. Morgan Stanley lowered Syndax Pharmaceuticals from an “overweight” rating to an “equal weight” rating and set a $6.00 target price on the stock. in a report on Monday, October 29th. HC Wainwright dropped their target price on Syndax Pharmaceuticals to $23.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Finally, ValuEngine upgraded Syndax Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $18.20.
SNDX opened at $5.42 on Thursday. Syndax Pharmaceuticals has a 52-week low of $4.36 and a 52-week high of $15.20. The stock has a market cap of $129.89 million, a P/E ratio of -1.87 and a beta of 2.63.
Large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers bought a new stake in Syndax Pharmaceuticals in the second quarter valued at approximately $103,000. DRW Securities LLC bought a new stake in Syndax Pharmaceuticals in the second quarter valued at approximately $105,000. Claraphi Advisory Network LLC bought a new stake in Syndax Pharmaceuticals in the third quarter valued at approximately $129,000. The Manufacturers Life Insurance Company raised its stake 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 valued at $151,000 after buying an additional 7,686 shares during the period. Finally, Bank of America Corp DE raised its stake 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 valued at $197,000 after buying an additional 26,189 shares during the period. Hedge funds and other institutional investors own 64.38% of the company’s stock.
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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