Brokerages expect Syndax Pharmaceuticals Inc (NASDAQ:SNDX) to post $380,000.00 in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Syndax Pharmaceuticals’ earnings. Syndax Pharmaceuticals reported sales of $310,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.6%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Syndax Pharmaceuticals will report full year sales of $1.66 million for the current year, with estimates ranging from $1.50 million to $2.11 million. For the next year, analysts anticipate that the business will post sales of $6.18 million, with estimates ranging from $1.40 million to $19.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Syndax Pharmaceuticals.
Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Tuesday, August 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.87) by $0.13. Syndax Pharmaceuticals had a negative return on equity of 80.35% and a negative net margin of 3,190.51%. The business had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.38 million.
Several research firms have issued reports on SNDX. Citigroup cut their price target on Syndax Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday. Zacks Investment Research lowered Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, July 6th. Finally, HC Wainwright began coverage on Syndax Pharmaceuticals in a report on Thursday, July 12th. They set a “buy” rating and a $30.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $23.20.
NASDAQ:SNDX opened at $6.39 on Friday. Syndax Pharmaceuticals has a 52-week low of $6.10 and a 52-week high of $15.20. The stock has a market cap of $188.71 million, a price-to-earnings ratio of -2.20 and a beta of 1.27.
A number of large investors have recently added to or reduced their stakes in SNDX. BlackRock Inc. grew its holdings in Syndax Pharmaceuticals by 30.9% during the second quarter. BlackRock Inc. now owns 1,670,816 shares of the company’s stock valued at $11,729,000 after purchasing an additional 394,145 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Syndax Pharmaceuticals in the first quarter worth about $4,269,000. Stonepine Capital Management LLC bought a new position in shares of Syndax Pharmaceuticals in the second quarter worth about $1,393,000. Macquarie Group Ltd. bought a new position in shares of Syndax Pharmaceuticals in the second quarter worth about $1,264,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Syndax Pharmaceuticals by 77.7% in the first quarter. Dimensional Fund Advisors LP now owns 397,579 shares of the company’s stock worth $5,658,000 after acquiring an additional 173,821 shares during the period. 64.20% of the stock is owned by institutional investors and hedge funds.
About Syndax Pharmaceuticals
Syndax Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapies for various cancer indications. The company's lead product candidate is Entinostat, which is in Phase 3 clinical trial for the treatment of hormone receptor positive or HR+, human epidermal growth factor receptor 2 negative or HER2-, and breast cancer; and Phase 1b/2 clinical trial.
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