Syndax Pharmaceuticals, Inc. (SNDX) Announces Quarterly Earnings Results, Beats Estimates By $0.12 EPS
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) issued its quarterly earnings data on Tuesday. The company reported ($0.68) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.12, Bloomberg Earnings reports. The firm had revenue of $0.31 million during the quarter, compared to analysts’ expectations of $0.30 million. Syndax Pharmaceuticals had a negative return on equity of 59.21% and a negative net margin of 4,304.34%. Syndax Pharmaceuticals’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.84) earnings per share.
Syndax Pharmaceuticals (SNDX) traded up $0.21 during midday trading on Thursday, hitting $10.14. The stock had a trading volume of 74,053 shares, compared to its average volume of 104,352. Syndax Pharmaceuticals has a 12 month low of $6.31 and a 12 month high of $15.70.
Several brokerages recently issued reports on SNDX. Instinet reaffirmed a “buy” rating and set a $22.00 price objective (down from $27.00) on shares of Syndax Pharmaceuticals in a report on Monday, August 14th. ValuEngine cut Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Monday, July 17th. Zacks Investment Research raised Syndax Pharmaceuticals from a “hold” rating to a “buy” rating and set a $15.00 price target for the company in a report on Tuesday, July 18th. Nomura cut their price target on Syndax Pharmaceuticals from $27.00 to $22.00 and set a “buy” rating for the company in a report on Friday, August 11th. Finally, Oppenheimer Holdings, Inc. boosted their price target on Syndax Pharmaceuticals to $29.00 and gave the stock an “outperform” rating in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $23.13.
A hedge fund recently raised its stake in Syndax Pharmaceuticals stock. California State Teachers Retirement System increased its holdings in Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 60.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,587 shares of the company’s stock after purchasing an additional 5,900 shares during the period. California State Teachers Retirement System owned 0.08% of Syndax Pharmaceuticals worth $218,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 64.22% of the company’s stock.
About Syndax Pharmaceuticals
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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