Syndax Pharmaceuticals (NASDAQ:SNDX) Announces Earnings Results, Beats Estimates By $0.26 EPS

Syndax Pharmaceuticals (NASDAQ:SNDX) posted its quarterly earnings data on Tuesday. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.24) by $0.26, Zacks reports. The firm had revenue of $20.04 million for the quarter, compared to analysts’ expectations of $15.88 million. Syndax Pharmaceuticals’s quarterly revenue was up 1900.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.85) earnings per share.

Syndax Pharmaceuticals Price Performance

NASDAQ:SNDX traded down $1.50 during trading hours on Tuesday, reaching $12.07. 630,920 shares of the stock were exchanged, compared to its average volume of 1,622,731. The stock has a market cap of $1.04 billion, a PE ratio of -3.40 and a beta of 0.82. Syndax Pharmaceuticals has a twelve month low of $9.66 and a twelve month high of $25.07. The firm has a 50 day moving average of $12.85 and a 200 day moving average of $14.59.

Insider Activity at Syndax Pharmaceuticals

In other news, insider Neil Gallagher sold 4,618 shares of the stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $71,579.00. Following the transaction, the insider now directly owns 85,095 shares of the company’s stock, valued at $1,318,972.50. This represents a 5.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael A. Metzger sold 13,288 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $205,964.00. Following the transaction, the chief executive officer now owns 300,121 shares in the company, valued at approximately $4,651,875.50. This trade represents a 4.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,683 shares of company stock valued at $336,087. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SNDX has been the topic of several research reports. Scotiabank dropped their target price on Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 8th. StockNews.com upgraded shares of Syndax Pharmaceuticals to a “sell” rating in a research note on Thursday, April 10th. HC Wainwright restated a “buy” rating and set a $51.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. Citigroup decreased their price objective on shares of Syndax Pharmaceuticals from $45.00 to $42.00 and set a “buy” rating for the company in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. boosted their price target on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an “overweight” rating in a research report on Thursday, March 20th. One equities 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. According to MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.20.

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).