Wall Street analysts expect Syndax Pharmaceuticals Inc (NASDAQ:SNDX) to report $310,000.00 in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Syndax Pharmaceuticals’ earnings. Syndax Pharmaceuticals also posted sales of $310,000.00 in the same quarter last year. The firm is expected to report its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Syndax Pharmaceuticals will report full year sales of $310,000.00 for the current year. For the next year, analysts forecast that the firm will report sales of $1.22 million per share. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Syndax Pharmaceuticals.
Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Monday, May 8th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.74) by $0.03. Syndax Pharmaceuticals had a negative net margin of 4,252.79% and a negative return on equity of 66.38%. The company had revenue of $0.31 million during the quarter, compared to the consensus estimate of $0.31 million.
A number of research analysts recently issued reports on SNDX shares. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, March 22nd. ValuEngine upgraded shares of Syndax Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 18th. Cowen and Company reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Tuesday, May 9th. Zacks Investment Research upgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “buy” rating and set a $9.25 target price on the stock in a research report on Friday, May 12th. Finally, Instinet started coverage on shares of Syndax Pharmaceuticals in a research report on Wednesday, March 1st. They set a “buy” rating and a $27.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $23.75.
In related news, insider Peter Ordentlich sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $15.00, for a total transaction of $75,000.00. Following the transaction, the insider now owns 5,000 shares in the company, valued at approximately $75,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Syndax Pharmaceuticals by 6.5% in the fourth quarter. State Street Corp now owns 58,921 shares of the company’s stock valued at $422,000 after buying an additional 3,599 shares during the last quarter. Elkfork Partners LLC acquired a new position in Syndax Pharmaceuticals during the fourth quarter valued at $204,000. Alyeska Investment Group L.P. increased its position in Syndax Pharmaceuticals by 33.3% in the fourth quarter. Alyeska Investment Group L.P. now owns 225,000 shares of the company’s stock valued at $1,613,000 after buying an additional 56,228 shares during the last quarter. C WorldWide Group Holding A S acquired a new position in Syndax Pharmaceuticals during the first quarter valued at $163,000. Finally, Bank of New York Mellon Corp increased its position in Syndax Pharmaceuticals by 43.5% in the first quarter. Bank of New York Mellon Corp now owns 29,227 shares of the company’s stock valued at $401,000 after buying an additional 8,861 shares during the last quarter. Hedge funds and other institutional investors own 62.22% of the company’s stock.
Shares of Syndax Pharmaceuticals (SNDX) remained flat at $10.35 during midday trading on Friday. The company’s stock had a trading volume of 91,079 shares. The company’s market capitalization is $188.94 million. Syndax Pharmaceuticals has a 52 week low of $6.31 and a 52 week high of $18.03. The company has a 50 day moving average of $10.78 and a 200-day moving average of $10.27.
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About Syndax Pharmaceuticals
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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