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

Key Points

• Syndax Pharmaceuticals reported a quarterly loss of $0.55 per share, missing analyst expectations by $0.06, while revenue of $83.3 million exceeded estimates of $81.8 million.
• Shares fell to $13.10 following the results, near the company’s 52-week low of $12.80. The stock has a $1.16 billion market capitalization and remains unprofitable, with an 87.52% negative net margin.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $41.80; however, one director recently sold 8,000 shares at an average price of $14.21.

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) issued 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. The company had revenue of $83.30 million during the quarter, compared to analysts' expectations of $81.80 million. Syndax Pharmaceuticals had a negative return on equity of 372.94% and a negative net margin of 87.52%.

Syndax Pharmaceuticals Price Performance

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

Analysts Set New Price Targets

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

Insider Activity at Syndax Pharmaceuticals

In other news, Director Dennis Podlesak sold 8,000 shares of the firm'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 directly owned 239,763 shares of the company's stock, valued at approximately $3,407,032.23. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 4.80% of the stock is owned by company insiders.

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.

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