HC Wainwright Has Positive Outlook of SNDX FY2024 Earnings

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) – HC Wainwright increased their FY2024 earnings estimates for shares of Syndax Pharmaceuticals in a note issued to investors on Monday, November 18th. HC Wainwright analyst E. White now anticipates that the company will post earnings per share of ($3.75) for the year, up from their previous estimate of ($3.83). HC Wainwright has a “Buy” rating and a $51.00 price objective on the stock. The consensus estimate for Syndax Pharmaceuticals’ current full-year earnings is ($3.61) per share. HC Wainwright also issued estimates for Syndax Pharmaceuticals’ Q4 2024 earnings at ($1.11) EPS, FY2025 earnings at ($3.76) EPS and FY2026 earnings at ($2.98) EPS.

Several other equities research analysts have also recently commented on SNDX. JPMorgan Chase & Co. cut their target price on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Stifel Nicolaus boosted their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. 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 report on Thursday, August 15th. The Goldman Sachs Group lifted their price target on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $37.18.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock opened at $15.95 on Wednesday. The firm has a market cap of $1.36 billion, a price-to-earnings ratio of -4.42 and a beta of 0.92. The stock’s 50-day moving average is $18.76 and its 200-day moving average is $20.11. Syndax Pharmaceuticals has a one year low of $14.97 and a one year high of $25.34.

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

Institutional Trading of Syndax Pharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of 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 acquiring an additional 541 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Syndax Pharmaceuticals by 2.5% in the first quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock valued at $963,000 after purchasing an additional 991 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Syndax Pharmaceuticals by 1.5% in the first quarter. California State Teachers Retirement System now owns 76,557 shares of the company’s stock valued at $1,822,000 after purchasing an additional 1,150 shares during the period. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter worth about $27,000. Finally, Ameritas Investment Partners Inc. boosted its holdings in shares of Syndax Pharmaceuticals by 20.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 7,858 shares of the company’s stock worth $187,000 after buying an additional 1,312 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).