Syndax Pharmaceuticals (NASDAQ:SNDX) Announces Quarterly Earnings Results

Syndax Pharmaceuticals (NASDAQ:SNDX) released its quarterly earnings results on Tuesday. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.10), Zacks reports. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%.

Here are the key takeaways from Syndax Pharmaceuticals’ conference call:

• Commercial revenue grew strongly: Revuforj and Niktimvo generated combined second-quarter revenue of $115 million. Revuforj revenue rose 91% year over year to $54.7 million, while Niktimvo collaboration revenue increased 67% to $18.1 million.
• Revuforj treatment duration is extending, particularly among patients resuming therapy after stem-cell transplant and those who do not undergo transplant. However, new patient starts declined sequentially in the quarter, which management attributed to normal variability, competition, clinical-trial enrollment and patient availability.
• Niktimvo continues to expand in chronic GVHD: The drug captured approximately one-third of the third-line-plus market within 18 months of launch, with 60%–70% of patients remaining on treatment for at least 12 months. Phase II readouts in idiopathic pulmonary fibrosis and frontline chronic GVHD are expected in the fourth quarter and could open larger markets.
• The pipeline has several near-term catalysts. Syndax expects additional frontline AML and post-transplant Revuforj data, NUP98 leukemia data and progress toward pivotal trials; it also plans an IND for its CNS-penetrant EGFR inhibitor by year-end 2026 and a 2027 Phase I start for its next-generation menin inhibitor in myelofibrosis.
• Financial flexibility remains strong: Syndax ended the quarter with $575 million in cash and investments, including net proceeds from a $250 million convertible-notes offering. Management maintained its 2026 R&D and SG&A expense guidance of approximately $400 million and said the company is funded through profitability.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock traded down $0.16 on Tuesday, hitting $19.08. 2,030,468 shares of the company traded hands, compared to its average volume of 1,616,007. The firm’s 50-day simple moving average is $20.42 and its 200 day simple moving average is $21.40. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. The company has a market cap of $1.69 billion, a P/E ratio of -6.84 and a beta of 0.40. Syndax Pharmaceuticals has a 12-month low of $11.91 and a 12-month high of $25.59.

Insider Buying and Selling at Syndax Pharmaceuticals

In other Syndax Pharmaceuticals news, CEO Michael A. Metzger sold 32,375 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.24, for a total transaction of $784,770.00. Following the sale, the chief executive officer owned 484,843 shares in the company, valued at $11,752,594.32. This trade represents a 6.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CMO Nicholas A.J. Botwood sold 34,280 shares of Syndax Pharmaceuticals stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $18.00, for a total value of $617,040.00. Following the sale, the chief marketing officer directly owned 60,885 shares of the company’s stock, valued at approximately $1,095,930. This trade represents a 36.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 105,914 shares of company stock valued at $2,120,789 over the last quarter. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Syndax Pharmaceuticals

A number of large investors have recently modified their holdings of SNDX. Larson Financial Group LLC lifted its position in Syndax Pharmaceuticals by 192.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,922 shares of the company’s stock worth $45,000 after buying an additional 1,922 shares during the last quarter. Quantbot Technologies LP bought a new position in Syndax Pharmaceuticals during the third quarter valued at approximately $53,000. Smartleaf Asset Management LLC grew its position in Syndax Pharmaceuticals by 2,698.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,659 shares of the company’s stock valued at $55,000 after acquiring an additional 2,564 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Syndax Pharmaceuticals during the second quarter worth approximately $66,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Syndax Pharmaceuticals by 103.3% during the second quarter. Tower Research Capital LLC TRC now owns 8,480 shares of the company’s stock worth $79,000 after acquiring an additional 4,308 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SNDX. UBS Group reiterated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Friday, June 12th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Syndax Pharmaceuticals in a research note on Wednesday, July 15th. Weiss Ratings cut Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 28th. Finally, Barclays raised their price target on Syndax Pharmaceuticals from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $42.55.

Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.