HC Wainwright Has Strong Forecast for SNDX FY2024 Earnings

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) – Equities researchers at HC Wainwright lifted their FY2024 EPS estimates for Syndax Pharmaceuticals in a research report issued to clients and investors on Monday, November 18th. HC Wainwright analyst E. White now expects that the company will earn ($3.75) per share for the year, up from their previous estimate of ($3.83). HC Wainwright has a “Buy” rating and a $51.00 price target 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 analysts have also recently weighed in on the stock. StockNews.com raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. The Goldman Sachs Group boosted their price objective on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Stifel Nicolaus upped their target price on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a “buy” rating in a report on Monday, October 14th. Bank of America lifted their price target on Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lowered 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. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Syndax Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average target price of $37.18.

Syndax Pharmaceuticals Stock Down 2.1 %

SNDX stock opened at $15.77 on Wednesday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of -4.34 and a beta of 0.92. Syndax Pharmaceuticals has a twelve month low of $14.97 and a twelve month high of $25.34. The business has a 50 day moving average price of $18.82 and a two-hundred day moving average price of $20.15.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share 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 quarter in the previous year, the business earned ($0.73) EPS.

Institutional Trading of Syndax Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. Sei Investments Co. increased its position in Syndax Pharmaceuticals by 2.5% during the 1st quarter. Sei Investments Co. now owns 40,463 shares of the company’s stock worth $963,000 after buying an additional 991 shares during the period. ProShare Advisors LLC raised its stake in Syndax Pharmaceuticals by 29.6% in the 1st quarter. ProShare Advisors LLC now owns 20,112 shares of the company’s stock worth $479,000 after purchasing an additional 4,599 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Syndax Pharmaceuticals by 13.6% in the 1st quarter. Vanguard Group Inc. now owns 4,926,984 shares of the company’s stock valued at $117,262,000 after purchasing an additional 591,631 shares during the period. Ameritas Investment Partners Inc. grew its position 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 purchasing an additional 1,312 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in shares of Syndax Pharmaceuticals during the first quarter worth approximately $229,000.

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).