Wall Street brokerages expect Syndax Pharmaceuticals Inc (NASDAQ:SNDX) to post earnings of ($0.76) per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Syndax Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.94) and the highest estimate coming in at ($0.57). Syndax Pharmaceuticals posted earnings per share of ($0.68) during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.8%. The company is expected to announce its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Syndax Pharmaceuticals will report full year earnings of ($3.12) per share for the current fiscal year, with EPS estimates ranging from ($3.52) to ($2.74). For the next financial year, analysts expect that the business will post earnings of ($3.19) per share, with EPS estimates ranging from ($4.63) to ($2.07). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Syndax Pharmaceuticals.
Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its earnings results on Tuesday, August 7th. The company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.87) by $0.13. The company had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $0.38 million. Syndax Pharmaceuticals had a negative net margin of 3,190.51% and a negative return on equity of 80.35%.
SNDX has been the subject of several analyst reports. ValuEngine upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research cut shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, May 9th. Finally, HC Wainwright initiated coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, July 12th. They issued a “buy” rating and a $30.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.00.
A number of institutional investors and hedge funds have recently bought and sold shares of SNDX. Macquarie Group Ltd. bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at $1,264,000. Bank of America Corp DE boosted its stake in shares of Syndax Pharmaceuticals by 1,382.0% in the 2nd quarter. Bank of America Corp DE now owns 28,084 shares of the company’s stock valued at $197,000 after purchasing an additional 26,189 shares during the last quarter. DRW Securities LLC bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at $105,000. Stonepine Capital Management LLC bought a new stake in shares of Syndax Pharmaceuticals in the 2nd quarter valued at $1,393,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Syndax Pharmaceuticals by 40.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 558,725 shares of the company’s stock valued at $3,922,000 after purchasing an additional 161,146 shares during the last quarter. 75.08% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:SNDX traded up $0.27 during midday trading on Tuesday, hitting $7.25. The stock had a trading volume of 13,607 shares, compared to its average volume of 284,985. The stock has a market capitalization of $167.69 million, a PE ratio of -2.49 and a beta of 1.09. Syndax Pharmaceuticals has a fifty-two week low of $6.10 and a fifty-two week high of $15.20.
Syndax Pharmaceuticals Company Profile
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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