HC Wainwright Has Positive Outlook of SNDX FY2024 Earnings

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) – Research analysts at HC Wainwright upped their FY2024 EPS estimates for shares of Syndax Pharmaceuticals in a report issued on Monday, November 18th. HC Wainwright analyst E. White now forecasts that the company will post earnings of ($3.75) per share for the year, up from their previous estimate of ($3.83). HC Wainwright has a “Buy” rating and a $51.00 price target on the stock. The consensus estimate for Syndax Pharmaceuticals’ current full-year earnings is ($3.69) per share. HC Wainwright also issued estimates for Syndax Pharmaceuticals’ Q4 2024 earnings at ($1.11) EPS, FY2025 earnings at ($3.76) EPS and FY2026 earnings at ($2.98) EPS.

SNDX has been the subject of several other research reports. Stifel Nicolaus upped their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 14th. StockNews.com upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Citigroup boosted their price objective on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays boosted their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 15th. Finally, Bank of America upped their price objective on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $37.64.

Syndax Pharmaceuticals Stock Performance

NASDAQ SNDX opened at $15.60 on Wednesday. The business has a fifty day moving average price of $18.71 and a 200 day moving average price of $20.08. The company has a market cap of $1.33 billion, a P/E ratio of -4.30 and a beta of 0.92. Syndax Pharmaceuticals has a one year low of $15.00 and a one year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.15. The firm had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the previous year, the firm posted ($0.73) earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Sei Investments Co. grew its stake in shares of Syndax Pharmaceuticals by 2.5% in the first quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock worth $963,000 after acquiring an additional 991 shares in the last quarter. ProShare Advisors LLC increased its holdings in Syndax Pharmaceuticals by 29.6% in the first quarter. ProShare Advisors LLC now owns 20,112 shares of the company’s stock valued at $479,000 after buying an additional 4,599 shares during the last quarter. Vanguard Group Inc. raised its stake in Syndax Pharmaceuticals by 13.6% in the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after buying an additional 591,631 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Syndax Pharmaceuticals by 20.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock worth $187,000 after buying an additional 1,312 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new position in shares of Syndax Pharmaceuticals during the 1st quarter worth about $229,000.

Syndax Pharmaceuticals Company Profile

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).