Syndax Pharmaceuticals, Inc. (SNDX) Announces Quarterly Earnings Results
Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) released its quarterly earnings data on Thursday. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.79) by $0.09, Bloomberg Earnings reports. The firm had revenue of $0.31 million for the quarter, compared to analyst estimates of $0.31 million. Syndax Pharmaceuticals had a negative return on equity of 52.82% and a negative net margin of 3,861.72%.
Shares of Syndax Pharmaceuticals (NASDAQ:SNDX) traded down 3.14% during trading on Friday, hitting $10.80. The stock had a trading volume of 74,201 shares. The company’s 50 day moving average price is $13.16 and its 200 day moving average price is $11.66. The company’s market capitalization is $197.15 million. Syndax Pharmaceuticals has a 52 week low of $6.31 and a 52 week high of $18.03.
Several research firms have issued reports on SNDX. Oppenheimer Holdings, Inc. upped their price objective on Syndax Pharmaceuticals to $29.00 and gave the company an “outperform” rating in a research note on Friday. ValuEngine lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday, July 17th. Citigroup Inc. set a $24.00 price objective on Syndax Pharmaceuticals and gave the company a “buy” rating in a research note on Friday, May 19th. Zacks Investment Research lowered Syndax Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, Morgan Stanley restated an “overweight” rating and issued a $25.00 price objective (up previously from $24.00) on shares of Syndax Pharmaceuticals in a research note on Monday, July 10th. One analyst has rated the stock with a sell rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $25.13.
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In related news, insider Peter Ordentlich sold 5,000 shares of Syndax Pharmaceuticals stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $15.00, for a total value of $75,000.00. Following the sale, the insider now owns 5,000 shares of the company’s stock, valued at approximately $75,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 24.10% of the company’s stock.
Several large investors have recently bought and sold shares of SNDX. Airain ltd bought a new stake in Syndax Pharmaceuticals during the second quarter worth approximately $150,000. Bank of Montreal Can bought a new stake in Syndax Pharmaceuticals during the second quarter worth approximately $158,000. C WorldWide Group Holding A S bought a new stake in Syndax Pharmaceuticals during the first quarter worth approximately $163,000. Teachers Advisors LLC boosted its stake in Syndax Pharmaceuticals by 109.9% in the second quarter. Teachers Advisors LLC now owns 15,451 shares of the company’s stock worth $216,000 after buying an additional 8,091 shares during the period. Finally, Alps Advisors Inc. bought a new stake in Syndax Pharmaceuticals during the second quarter worth approximately $277,000. 53.46% of the stock is currently owned by institutional investors.
Syndax Pharmaceuticals Company Profile
Syndax Pharmaceuticals, Inc (Syndax) is a clinical stage biopharmaceutical company focused on developing a pipeline of combination therapies in multiple cancer indications. The Company’s product candidate, entinostat, which was granted Breakthrough Therapy designation by the FDA following positive results from its Phase IIb clinical trial, ENCORE 301, is being evaluated in a Phase III clinical trial for advanced hormone receptor positive breast cancer.
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