Syndax Pharmaceuticals (NASDAQ:SNDX) Announces Quarterly Earnings Results

Syndax Pharmaceuticals (NASDAQ:SNDX) released its quarterly earnings results on Monday. The company reported ($1.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.79), Zacks reports.

Syndax Pharmaceuticals Stock Down 1.0 %

Syndax Pharmaceuticals stock opened at $15.48 on Tuesday. The stock has a market cap of $1.32 billion, a P/E ratio of -4.26 and a beta of 0.90. The company’s 50 day moving average price is $14.23 and its two-hundred day moving average price is $16.75. Syndax Pharmaceuticals has a 52 week low of $12.06 and a 52 week high of $25.16.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Scotiabank reduced their target price on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 8th. The Goldman Sachs Group lifted their price objective on Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Citigroup increased their price target on Syndax Pharmaceuticals from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their target price on shares of Syndax Pharmaceuticals from $33.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $36.20.

Insider Buying and Selling

In related news, insider Neil Gallagher sold 4,618 shares of Syndax Pharmaceuticals stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $71,579.00. Following the completion of the sale, the insider now owns 85,095 shares of the company’s stock, valued at approximately $1,318,972.50. This trade represents a 5.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Keith A. Goldan sold 3,777 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $58,543.50. Following the completion of the sale, the chief financial officer now owns 90,746 shares in the company, valued at $1,406,563. This represents a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,683 shares of company stock worth $336,087. 4.10% of the stock is owned by company insiders.

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).