Syndax Pharmaceuticals (NASDAQ:SNDX) Releases Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Syndax Pharmaceuticals (NASDAQ:SNDX) posted its quarterly earnings results on Monday. The company reported ($0.55) EPS for the quarter, missing the consensus estimate of ($0.49) by ($0.06), FiscalAI reports. Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%. The company had revenue of $83.30 million for the quarter, compared to analysts’ expectations of $81.80 million.

Syndax Pharmaceuticals Trading Down 4.0%

Shares of NASDAQ SNDX traded down $0.55 during mid-day trading on Monday, reaching $13.10. 3,173,868 shares of the company’s stock were exchanged, compared to its average volume of 1,727,458. The company’s 50-day moving average is $17.18 and its 200-day moving average is $20.25. The company has a debt-to-equity ratio of 38.95, a quick ratio of 6.44 and a current ratio of 6.77. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -5.22 and a beta of 0.42. Syndax Pharmaceuticals has a 52-week low of $12.80 and a 52-week high of $25.59.

Insider Buying and Selling

In other Syndax Pharmaceuticals news, Director Dennis Podlesak sold 8,000 shares of the company’s stock in a transaction dated Thursday, October 29th. The shares were sold at an average price of $14.21, for a total value of $113,680.00. Following the transaction, the director owned 239,763 shares of the company’s stock, valued at $3,407,032.23. This represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SNDX. UBS Group restated a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Thursday, October 1st. JPMorgan Chase & Co. decreased their target price on shares of Syndax Pharmaceuticals from $44.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings cut shares of Syndax Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, October 19th. Jefferies Financial Group restated a “buy” rating and set a $35.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, September 29th. Finally, Bank of America reaffirmed a “buy” rating on shares of Syndax Pharmaceuticals in a research report on Wednesday, August 5th. Ten analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $41.80.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc (NASDAQ:SNDX) is a biopharmaceutical company focused on developing and commercializing therapies for cancer and immune-related diseases. Founded in 2005 and headquartered in Waltham, Massachusetts, the company develops medicines designed to address genetically defined cancers and serious complications associated with cancer treatment.

Syndax’s lead product is Revuforj (revumenib), an oral menin inhibitor approved in the United States for the treatment of relapsed or refractory acute leukemia with a KMT2A translocation in eligible adults and children.