Syndax Pharmaceuticals (NASDAQ:SNDX) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Syndax Pharmaceuticals (NASDAQ:SNDX) issued its quarterly earnings data on Tuesday. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.13) by $0.15, Briefing.com reports. The business had revenue of $12.50 million during the quarter, compared to the consensus estimate of $9.16 million. During the same quarter last year, the company earned ($0.73) EPS.

Syndax Pharmaceuticals Stock Up 6.8 %

SNDX traded up $1.33 on Wednesday, hitting $21.02. The company had a trading volume of 1,329,677 shares, compared to its average volume of 1,053,259. The company has a market cap of $1.79 billion, a PE ratio of -5.83 and a beta of 0.92. The business’s fifty day simple moving average is $19.05 and its 200 day simple moving average is $20.31. Syndax Pharmaceuticals has a 12-month low of $13.14 and a 12-month high of $25.34.

Analyst Ratings Changes

Several research firms have recently commented on SNDX. JPMorgan Chase & Co. reduced their price objective on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Barclays boosted their price objective on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. UBS Group initiated coverage on shares of Syndax Pharmaceuticals in a report on Thursday, October 24th. They set a “buy” rating and a $37.00 price target on the stock. Citigroup increased their price objective on shares of Syndax Pharmaceuticals from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Finally, HC Wainwright lifted their target price on shares of Syndax Pharmaceuticals from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $36.10.

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).