Syndax Pharmaceuticals (SNDX) Announces Earnings Results

Syndax Pharmaceuticals (NASDAQ:SNDX) announced its quarterly earnings data on Monday, May 6th. The company reported ($0.53) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.03, Morningstar.com reports. Syndax Pharmaceuticals had a negative return on equity of 107.48% and a negative net margin of 4,539.55%. The firm had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $0.38 million.

Syndax Pharmaceuticals stock traded down $0.17 during mid-day trading on Thursday, reaching $7.82. 171,885 shares of the company’s stock were exchanged, compared to its average volume of 172,663. The firm has a market capitalization of $197.26 million, a P/E ratio of -2.68 and a beta of 2.61. Syndax Pharmaceuticals has a one year low of $3.39 and a one year high of $9.37. The company has a current ratio of 6.24, a quick ratio of 6.24 and a debt-to-equity ratio of 0.01.

In other Syndax Pharmaceuticals news, CEO Briggs Morrison purchased 20,400 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were acquired at an average cost of $7.46 per share, for a total transaction of $152,184.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in shares of Syndax Pharmaceuticals by 2.3% in the first quarter. Wellington Management Group LLP now owns 3,317,872 shares of the company’s stock valued at $17,419,000 after buying an additional 76,090 shares during the period. BlackRock Inc. grew its position in Syndax Pharmaceuticals by 5.2% during the third quarter. BlackRock Inc. now owns 1,757,844 shares of the company’s stock worth $14,202,000 after buying an additional 87,028 shares in the last quarter. 683 Capital Management LLC grew its position in Syndax Pharmaceuticals by 157.7% during the fourth quarter. 683 Capital Management LLC now owns 1,342,839 shares of the company’s stock worth $5,976,000 after buying an additional 821,839 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Syndax Pharmaceuticals by 12.1% during the first quarter. Dimensional Fund Advisors LP now owns 907,853 shares of the company’s stock worth $4,766,000 after buying an additional 97,669 shares in the last quarter. Finally, Sofinnova Investments Inc. lifted its stake in Syndax Pharmaceuticals by 102.2% during the fourth quarter. Sofinnova Investments Inc. now owns 350,110 shares of the company’s stock worth $1,558,000 after purchasing an additional 176,998 shares during the last quarter. Hedge funds and other institutional investors own 62.64% of the company’s stock.

SNDX has been the subject of a number of research reports. ValuEngine raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, March 21st. Morgan Stanley set a $5.00 price objective on Syndax Pharmaceuticals and gave the company a “hold” rating in a research note on Friday, March 8th. Nomura raised their price objective on Syndax Pharmaceuticals to $16.00 and gave the company a “buy” rating in a research note on Friday, March 8th. HC Wainwright reissued a “buy” rating and issued a $16.00 price objective (down previously from $22.00) on shares of Syndax Pharmaceuticals in a research note on Friday, March 8th. They noted that the move was a valuation call. Finally, B. Riley set a $26.00 price objective on Syndax Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, March 8th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $14.61.

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Syndax Pharmaceuticals Company Profile

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. The company's lead product candidates include entinostat, which is in Phase III clinical trials for the treatment of advanced hormone receptor positive (HR+) and human epidermal growth factor receptor 2 negative (HER2-) breast cancer; and SNDX-5613 inhibitor that targets the binding interaction of Menin with mixed lineage leukemia-rearranged and acute myeloid leukemia with a mutated nucleophosmin 1.

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Earnings History for Syndax Pharmaceuticals (NASDAQ:SNDX)

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