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

Syndax Pharmaceuticals (NASDAQ:SNDX) issued its earnings results on Tuesday. The company reported ($0.98) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15, Briefing.com reports. The company had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same quarter in the previous year, the firm earned ($0.73) earnings per share.

Syndax Pharmaceuticals Trading Up 8.9 %

NASDAQ SNDX traded up $1.75 during trading on Wednesday, hitting $21.44. 1,547,284 shares of the company traded hands, compared to its average volume of 1,054,271. The company has a market capitalization of $1.82 billion, a P/E ratio of -5.83 and a beta of 0.92. The business has a fifty day simple moving average of $19.05 and a 200 day simple moving average of $20.31. Syndax Pharmaceuticals has a 12 month low of $13.14 and a 12 month high of $25.34.

Analyst Ratings Changes

A number of brokerages recently weighed in on SNDX. Bank of America lifted their price target on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Stifel Nicolaus increased their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Citigroup lifted their target price on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 16th. HC Wainwright raised their price target on shares of Syndax Pharmaceuticals from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays increased their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus 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).