B. Riley Issues Optimistic Forecast for SNDX Earnings

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) – Equities research analysts at B. Riley upped their FY2024 EPS estimates for Syndax Pharmaceuticals in a research report issued on Monday, November 18th. B. Riley analyst K. Patel now expects that the company will post earnings per share of ($3.90) for the year, up from their previous forecast of ($4.15). The consensus estimate for Syndax Pharmaceuticals’ current full-year earnings is ($3.61) per share. B. Riley also issued estimates for Syndax Pharmaceuticals’ Q4 2024 earnings at ($1.27) EPS, FY2025 earnings at ($4.80) EPS, FY2026 earnings at ($3.47) EPS and FY2027 earnings at ($1.78) EPS.

Syndax Pharmaceuticals (NASDAQ:SNDX) last posted its earnings results on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15. The firm had revenue of $12.50 million for the quarter, compared to analysts’ expectations of $9.16 million. During the same quarter in the previous year, the firm posted ($0.73) earnings per share.

Other equities analysts also recently issued research reports about the company. Barclays raised their price target on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 15th. StockNews.com upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, November 15th. HC Wainwright raised their price target on shares of Syndax Pharmaceuticals from $49.00 to $51.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group assumed coverage on shares of Syndax Pharmaceuticals in a research report on Thursday, October 24th. They issued a “buy” rating and a $37.00 price objective for the company. Finally, Bank of America raised their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.18.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ SNDX opened at $15.77 on Wednesday. The firm’s 50-day moving average is $18.82 and its two-hundred day moving average is $20.15. The company has a market capitalization of $1.35 billion, a PE ratio of -4.34 and a beta of 0.92. Syndax Pharmaceuticals has a 12-month low of $14.97 and a 12-month high of $25.34.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of large investors have recently modified their holdings of SNDX. Northwestern Mutual Wealth Management Co. bought a new stake in Syndax Pharmaceuticals in the second quarter valued at about $27,000. Values First Advisors Inc. bought a new stake in Syndax Pharmaceuticals in the third quarter valued at approximately $30,000. nVerses Capital LLC acquired a new position in Syndax Pharmaceuticals in the second quarter valued at about $33,000. Quantbot Technologies LP acquired a new stake in shares of Syndax Pharmaceuticals during the third quarter worth about $49,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Syndax Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after purchasing an additional 541 shares in the last quarter.

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).