Syndax Pharmaceuticals (NASDAQ:SNDX) Issues Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Syndax Pharmaceuticals (NASDAQ:SNDX) announced its earnings results on Thursday. The company reported ($0.80) earnings per share for the quarter, beating the consensus estimate of ($0.91) by $0.11, Briefing.com reports. The firm had revenue of $3.50 million during the quarter. During the same period last year, the firm earned ($0.64) earnings per share. The company’s revenue was up 3499999990.0% compared to the same quarter last year.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX traded down $0.96 on Friday, reaching $21.04. The company had a trading volume of 1,665,606 shares, compared to its average volume of 1,118,992. The firm has a market capitalization of $1.79 billion, a PE ratio of -6.53 and a beta of 0.94. Syndax Pharmaceuticals has a 1 year low of $11.22 and a 1 year high of $25.34. The firm has a 50-day moving average of $21.14 and a 200-day moving average of $21.76.

Analyst Ratings Changes

A number of research firms have recently commented on SNDX. Scotiabank downgraded shares of Syndax Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 14th. Jefferies Financial Group began coverage on shares of Syndax Pharmaceuticals in a research note on Friday, June 28th. They set a “buy” rating and a $37.00 price objective for the company. Citigroup dropped their price objective on shares of Syndax Pharmaceuticals from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, May 9th. 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. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $34.00 price objective on shares of Syndax Pharmaceuticals in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, Syndax Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $34.73.

Insiders Place Their Bets

In related news, CFO Keith A. Goldan purchased 1,250 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $20.03 per share, for a total transaction of $25,037.50. Following the acquisition, the chief financial officer now directly owns 52,623 shares in the company, valued at $1,054,038.69. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.10% of the stock is 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).