HC Wainwright Has Bullish Outlook for SNDX FY2024 Earnings

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX - Free Report) - Analysts at HC Wainwright boosted their FY2024 EPS estimates for shares of Syndax Pharmaceuticals in a research report issued to clients and investors on Wednesday, November 6th. HC Wainwright analyst E. White now forecasts that the company will post earnings of ($3.83) per share for the year, up from their previous forecast of ($3.94). HC Wainwright currently has a "Buy" rating and a $47.00 price target on the stock. The consensus estimate for Syndax Pharmaceuticals' current full-year earnings is ($3.66) per share. HC Wainwright also issued estimates for Syndax Pharmaceuticals' Q4 2024 earnings at ($1.20) EPS, FY2025 earnings at ($3.75) EPS and FY2026 earnings at ($2.96) EPS.

Other research analysts also recently issued research reports about the stock. Barclays boosted their target price on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 15th. Stifel Nicolaus boosted their target price on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the company a "buy" rating in a research note on Monday, October 14th. UBS Group began coverage on shares of Syndax Pharmaceuticals in a research note on Thursday, October 24th. They issued a "buy" rating and a $37.00 target price for the company. StockNews.com raised shares of Syndax Pharmaceuticals from a "sell" rating to a "hold" rating in a research note on Thursday. Finally, Bank of America boosted their target price on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Thursday, August 15th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Syndax Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $35.82.

Syndax Pharmaceuticals Price Performance

Shares of Syndax Pharmaceuticals stock traded up $0.29 on Friday, hitting $21.81. The company's stock had a trading volume of 907,015 shares, compared to its average volume of 1,064,442. Syndax Pharmaceuticals has a 52-week low of $13.14 and a 52-week high of $25.34. The firm has a fifty day moving average price of $19.09 and a 200-day moving average price of $20.33.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) last released its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) 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 analysts' expectations of $9.16 million. During the same quarter in the prior year, the firm earned ($0.73) earnings per share.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SNDX. Nvwm LLC acquired a new position in shares of Syndax Pharmaceuticals during the 1st quarter valued at about $1,022,000. Swiss National Bank increased its position in Syndax Pharmaceuticals by 5.8% during the 1st quarter. Swiss National Bank now owns 150,600 shares of the company's stock worth $3,584,000 after purchasing an additional 8,200 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Syndax Pharmaceuticals during the 1st quarter worth approximately $2,614,000. 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 purchasing an additional 991 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Syndax Pharmaceuticals by 29.6% during 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.

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).