B. Riley Issues Pessimistic Estimate for SNDX Earnings

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) – B. Riley cut their FY2027 earnings per share (EPS) estimates for Syndax Pharmaceuticals in a report issued on Friday, October 3rd. B. Riley analyst M. Mamtani now expects that the company will post earnings of $0.05 per share for the year, down from their previous estimate of $0.12. B. Riley currently has a “Strong-Buy” rating on the stock. The consensus estimate for Syndax Pharmaceuticals’ current full-year earnings is ($3.72) per share.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Monday, August 4th. The company reported ($0.83) EPS for the quarter, topping the consensus estimate of ($1.01) by $0.18. Syndax Pharmaceuticals had a negative return on equity of 130.47% and a negative net margin of 428.48%.The business had revenue of $37.96 million for the quarter, compared to analysts’ expectations of $26.64 million. During the same quarter in the previous year, the firm posted ($0.80) earnings per share. The company’s revenue was up 984.5% compared to the same quarter last year.

Several other analysts have also recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of Syndax Pharmaceuticals in a research note on Saturday, September 27th. BTIG Research restated a “buy” rating and set a $56.00 price objective on shares of Syndax Pharmaceuticals in a research note on Friday, September 19th. Citigroup upped their price objective on Syndax Pharmaceuticals from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, August 5th. Stifel Nicolaus started coverage on Syndax Pharmaceuticals in a research note on Wednesday, September 10th. They set a “buy” rating and a $44.00 price objective on the stock. Finally, UBS Group cut their price objective on Syndax Pharmaceuticals from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.22.

Syndax Pharmaceuticals Trading Up 0.3%

Shares of NASDAQ SNDX opened at $16.45 on Monday. The stock’s 50 day moving average price is $14.87 and its two-hundred day moving average price is $12.21. Syndax Pharmaceuticals has a 52-week low of $8.58 and a 52-week high of $22.50. The stock has a market capitalization of $1.42 billion, a P/E ratio of -4.23 and a beta of 0.68. The company has a quick ratio of 4.55, a current ratio of 4.71 and a debt-to-equity ratio of 2.06.

Institutional Trading of Syndax Pharmaceuticals

Several large investors have recently added to or reduced their stakes in SNDX. Quarry LP acquired a new stake in shares of Syndax Pharmaceuticals in the first quarter worth $25,000. Teacher Retirement System of Texas boosted its position in shares of Syndax Pharmaceuticals by 11.9% in the second quarter. Teacher Retirement System of Texas now owns 23,132 shares of the company’s stock worth $217,000 after buying an additional 2,458 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Syndax Pharmaceuticals by 5.9% in the second quarter. The Manufacturers Life Insurance Company now owns 44,149 shares of the company’s stock worth $413,000 after buying an additional 2,479 shares during the period. DAFNA Capital Management LLC boosted its position in shares of Syndax Pharmaceuticals by 0.5% in the first quarter. DAFNA Capital Management LLC now owns 544,502 shares of the company’s stock worth $6,689,000 after buying an additional 2,500 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Syndax Pharmaceuticals by 5.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,842 shares of the company’s stock worth $705,000 after buying an additional 3,094 shares during the period.

Insider Buying and Selling

In other news, Director Dennis Podlesak sold 19,200 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $15.84, for a total transaction of $304,128.00. Following the sale, the director directly owned 191,763 shares in the company, valued at approximately $3,037,525.92. This represents a 9.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael A. Metzger sold 157,307 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $16.41, for a total value of $2,581,407.87. Following the sale, the chief executive officer owned 298,661 shares in the company, valued at $4,901,027.01. The trade was a 34.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 204,537 shares of company stock worth $3,265,935 over the last quarter. Insiders own 4.10% of the company’s stock.

Syndax Pharmaceuticals Company Profile

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).