Syndax Pharmaceuticals (NASDAQ:SNDX) Announces Earnings Results, Misses Expectations By $0.79 EPS

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

Syndax Pharmaceuticals Trading Up 2.4 %

Syndax Pharmaceuticals stock opened at $15.64 on Monday. The stock has a 50 day moving average of $14.19 and a 200-day moving average of $16.78. Syndax Pharmaceuticals has a 52 week low of $12.06 and a 52 week high of $25.16. The stock has a market cap of $1.33 billion, a P/E ratio of -4.31 and a beta of 0.90.

Insider Buying and Selling

In related news, CEO Michael A. Metzger sold 13,288 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total transaction of $205,964.00. Following the transaction, the chief executive officer now directly owns 300,121 shares in the company, valued at $4,651,875.50. This trade represents a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Neil Gallagher sold 4,618 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $15.50, for a total value of $71,579.00. Following the transaction, the insider now owns 85,095 shares in the company, valued at $1,318,972.50. This trade represents a 5.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,683 shares of company stock worth $336,087 over the last ninety days. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. increased their price objective 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. Citigroup increased their price objective on shares of Syndax Pharmaceuticals from $37.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group increased their price objective on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Scotiabank lowered their price objective on shares of Syndax Pharmaceuticals from $18.00 to $16.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com downgraded shares of Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $36.20.

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).