HC Wainwright Has Bullish Estimate for SNDX FY2024 Earnings

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) – Analysts at HC Wainwright boosted their FY2024 EPS estimates for shares of Syndax Pharmaceuticals in a research report issued on Wednesday, November 6th. HC Wainwright analyst E. White now forecasts that the company will earn ($3.83) per share for the year, up from their prior estimate of ($3.94). HC Wainwright has a “Buy” rating and a $47.00 price target on the stock. The consensus estimate for Syndax Pharmaceuticals’ current full-year earnings is ($3.66) per share. HC Wainwright also issued estimates for Syndax Pharmaceuticals’ Q4 2024 earnings at ($1.20) EPS, FY2025 earnings at ($3.75) EPS and FY2026 earnings at ($2.96) EPS.

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

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group lifted their target price on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a report on Thursday. JPMorgan Chase & Co. lowered their price target on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Stifel Nicolaus increased their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a report on Monday, October 14th. Bank of America boosted their price target on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. Finally, UBS Group began coverage on Syndax Pharmaceuticals in a research note on Thursday, October 24th. They set a “buy” rating and a $37.00 price target for the company. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.82.

Syndax Pharmaceuticals Price Performance

NASDAQ SNDX opened at $21.81 on Friday. The business’s 50-day moving average is $19.11 and its 200 day moving average is $20.33. The stock has a market capitalization of $1.86 billion, a PE ratio of -6.01 and a beta of 0.92. Syndax Pharmaceuticals has a 1 year low of $13.14 and a 1 year high of $25.34.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Iron Triangle Partners LP purchased a new stake in Syndax Pharmaceuticals during the 1st quarter worth approximately $23,159,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Syndax Pharmaceuticals during the 3rd quarter valued at about $15,165,000. First Turn Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the second quarter worth about $13,147,000. Vanguard Group Inc. boosted its position in Syndax Pharmaceuticals by 13.6% in the first quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after buying an additional 591,631 shares during the last quarter. Finally, Sofinnova Investments Inc. increased its holdings in Syndax Pharmaceuticals by 33.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 2,153,669 shares of the company’s stock worth $44,215,000 after buying an additional 545,129 shares during the period.

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).