Syndax Pharmaceuticals Inc (SNDX) Expected to Post Earnings of -$0.94 Per Share

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Wall Street brokerages expect Syndax Pharmaceuticals Inc (NASDAQ:SNDX) to report ($0.94) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Syndax Pharmaceuticals’ earnings. The highest EPS estimate is ($0.83) and the lowest is ($1.07). Syndax Pharmaceuticals posted earnings of ($0.70) per share during the same quarter last year, which suggests a negative year over year growth rate of 34.3%. The firm is expected to report its next quarterly earnings results on Thursday, August 9th.

On average, analysts expect that Syndax Pharmaceuticals will report full-year earnings of ($3.64) per share for the current fiscal year, with EPS estimates ranging from ($4.27) to ($3.20). For the next fiscal year, analysts expect that the company will post earnings of ($3.58) per share, with EPS estimates ranging from ($5.03) to ($2.44). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover Syndax Pharmaceuticals.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings results on Tuesday, May 8th. The company reported ($0.79) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.96) by $0.17. Syndax Pharmaceuticals had a negative net margin of 3,081.07% and a negative return on equity of 67.69%. The firm had revenue of $0.38 million during the quarter.

SNDX has been the subject of a number of research analyst reports. BidaskClub raised shares of Syndax Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, March 24th. TheStreet downgraded shares of Syndax Pharmaceuticals from a “c-” rating to a “d” rating in a report on Friday, April 13th. Zacks Investment Research raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, May 15th. ValuEngine raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Wednesday, May 2nd. Finally, Morgan Stanley dropped their price objective on shares of Syndax Pharmaceuticals from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, March 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $23.86.

Shares of Syndax Pharmaceuticals traded down $0.03, reaching $8.36, during mid-day trading on Tuesday, according to MarketBeat Ratings. 232,871 shares of the company were exchanged, compared to its average volume of 371,708. Syndax Pharmaceuticals has a 52 week low of $7.35 and a 52 week high of $15.20. The company has a market capitalization of $212.47 million, a P/E ratio of -2.88 and a beta of 1.14.

In other Syndax Pharmaceuticals news, insider Peter Ordentlich sold 7,500 shares of the business’s stock in a transaction on Tuesday, April 3rd. The shares were sold at an average price of $15.00, for a total value of $112,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 15.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. bought a new stake in Syndax Pharmaceuticals in the first quarter worth $4,269,000. Sofinnova Ventures Inc bought a new stake in Syndax Pharmaceuticals in the first quarter worth $173,000. The Manufacturers Life Insurance Company lifted its stake in Syndax Pharmaceuticals by 266.9% in the first quarter. The Manufacturers Life Insurance Company now owns 10,566 shares of the company’s stock worth $151,000 after purchasing an additional 7,686 shares during the last quarter. Opaleye Management Inc. bought a new stake in Syndax Pharmaceuticals in the first quarter worth $3,166,000. Finally, Dimensional Fund Advisors LP lifted its stake in 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 purchasing an additional 173,821 shares during the last quarter. 69.50% 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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Earnings History and Estimates for Syndax Pharmaceuticals (NASDAQ:SNDX)

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