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

Syndax Pharmaceuticals (NASDAQ:SNDX) issued its quarterly earnings results 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 firm had revenue of $12.50 million during the quarter, compared to analysts’ expectations of $9.16 million. During the same period in the previous year, the company earned ($0.73) earnings per share.

Syndax Pharmaceuticals Stock Up 6.8 %

SNDX traded up $1.33 during mid-day trading on Wednesday, reaching $21.02. 1,329,677 shares of the company traded hands, compared to its average volume of 1,053,259. The company’s fifty day moving average price is $19.05 and its 200-day moving average price is $20.31. The stock has a market capitalization of $1.79 billion, a P/E ratio of -5.83 and a beta of 0.92. Syndax Pharmaceuticals has a 52-week low of $13.14 and a 52-week high of $25.34.

Analyst Ratings Changes

A number of analysts have recently commented on SNDX shares. Bank of America boosted their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Barclays raised their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. dropped their price target on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. UBS Group initiated coverage on Syndax Pharmaceuticals in a research report on Thursday, October 24th. They set a “buy” rating and a $37.00 price objective for the company. Finally, Citigroup lifted their price objective on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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).