Syndax Pharmaceuticals Inc (NASDAQ:SNDX) – Research analysts at B. Riley upped their FY2023 earnings per share estimates for shares of Syndax Pharmaceuticals in a research note issued on Wednesday, May 8th. B. Riley analyst H. Polishetty now forecasts that the company will earn $0.23 per share for the year, up from their previous estimate of $0.19. B. Riley currently has a “Buy” rating and a $26.00 target price on the stock.
Several other equities analysts also recently commented on SNDX. ValuEngine upgraded Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, April 2nd. Zacks Investment Research raised Syndax Pharmaceuticals from a “hold” rating to a “buy” rating and set a $8.25 target price on the stock in a report on Wednesday. Nomura lifted their target price on Syndax Pharmaceuticals to $16.00 and gave the stock a “buy” rating in a report on Friday, March 8th. BTIG Research reduced their target price on Syndax Pharmaceuticals to $19.00 and set a “buy” rating on the stock in a report on Friday, March 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $16.00 target price (down from $22.00) on shares of Syndax Pharmaceuticals in a report on Friday, March 8th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $14.61.
Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its quarterly earnings data on Monday, May 6th. The company reported ($0.53) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.56) by $0.03. Syndax Pharmaceuticals had a negative return on equity of 107.73% and a negative net margin of 4,875.48%. The business had revenue of $0.38 million for the quarter, compared to the consensus estimate of $0.38 million.
Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in shares of Syndax Pharmaceuticals in the first quarter worth about $55,000. Paloma Partners Management Co bought a new stake in shares of Syndax Pharmaceuticals in the fourth quarter worth about $56,000. Parametric Portfolio Associates LLC bought a new stake in shares of Syndax Pharmaceuticals in the first quarter worth about $69,000. Squarepoint Ops LLC increased its holdings in shares of Syndax Pharmaceuticals by 51.3% in the fourth quarter. Squarepoint Ops LLC now owns 18,601 shares of the company’s stock worth $83,000 after purchasing an additional 6,303 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in shares of Syndax Pharmaceuticals by 38.1% in the fourth quarter. Rhumbline Advisers now owns 19,410 shares of the company’s stock worth $86,000 after purchasing an additional 5,350 shares during the last quarter. 61.87% of the stock is currently owned by hedge funds and other institutional investors.
About Syndax Pharmaceuticals
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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