B. Riley Has Bullish Outlook for SNDX FY2024 Earnings

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) - Research analysts at B. Riley lifted their FY2024 earnings estimates for Syndax Pharmaceuticals in a report released on Monday, November 18th. B. Riley analyst K. Patel now forecasts that the company will post earnings per share of ($3.90) for the year, up from their previous estimate of ($4.15). The consensus estimate for Syndax Pharmaceuticals' current full-year earnings is ($3.61) per share. B. Riley also issued estimates for Syndax Pharmaceuticals' Q4 2024 earnings at ($1.27) EPS, FY2025 earnings at ($4.80) EPS, FY2026 earnings at ($3.47) EPS and FY2027 earnings at ($1.78) EPS.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $0.15. The business had revenue of $12.50 million during the quarter, compared to analyst estimates of $9.16 million. During the same period in the previous year, the company earned ($0.73) EPS.

Other analysts also recently issued research reports about the stock. Bank of America raised their price target on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. decreased their price objective on shares of Syndax Pharmaceuticals from $34.00 to $33.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. Stifel Nicolaus increased their target price on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a "buy" rating in a report on Monday, October 14th. Barclays boosted their price objective on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an "overweight" rating in a research report on Thursday, August 15th. Finally, HC Wainwright raised their target price on shares of Syndax Pharmaceuticals from $49.00 to $51.00 and gave the stock a "buy" rating in a report on Monday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, Syndax Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $37.18.

Syndax Pharmaceuticals Stock Up 2.0 %

Shares of SNDX traded up $0.31 during mid-day trading on Wednesday, reaching $16.08. 369,131 shares of the stock traded hands, compared to its average volume of 1,147,293. Syndax Pharmaceuticals has a 12-month low of $14.97 and a 12-month high of $25.34. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of -4.42 and a beta of 0.92. The stock has a fifty day simple moving average of $18.76 and a 200 day simple moving average of $20.11.

Institutional Trading of Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at $27,000. Values First Advisors Inc. acquired a new position in shares of Syndax Pharmaceuticals in the 3rd quarter valued at about $30,000. nVerses Capital LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 2nd quarter valued at $33,000. Quantbot Technologies LP bought a new stake in Syndax Pharmaceuticals in the third quarter worth approximately $49,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Syndax Pharmaceuticals by 21.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company's stock worth $58,000 after purchasing an additional 541 shares during the period.

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).