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

Syndax Pharmaceuticals (NASDAQ:SNDX - Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.98) earnings per share for the quarter, topping the consensus estimate of ($1.04) by $0.06, Zacks reports. The company had revenue of $20.04 million during the quarter, compared to analyst estimates of $15.88 million. During the same period in the previous year, the company earned ($0.85) EPS. The business's revenue for the quarter was up 1900.0% compared to the same quarter last year.

Syndax Pharmaceuticals Price Performance

Syndax Pharmaceuticals stock traded down $0.31 during midday trading on Friday, reaching $10.70. The stock had a trading volume of 2,336,266 shares, compared to its average volume of 1,684,560. Syndax Pharmaceuticals has a twelve month low of $9.66 and a twelve month high of $25.07. The firm has a market cap of $920.67 million, a price-to-earnings ratio of -2.95 and a beta of 0.82. The firm's fifty day simple moving average is $12.48 and its two-hundred day simple moving average is $14.42.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SNDX shares. Guggenheim reiterated a "buy" rating and issued a $32.00 price objective on shares of Syndax Pharmaceuticals in a report on Tuesday. Scotiabank lifted their price target on Syndax Pharmaceuticals from $16.00 to $17.00 and gave the company a "sector perform" rating in a research report on Tuesday. StockNews.com upgraded Syndax Pharmaceuticals to a "sell" rating in a report on Tuesday. JPMorgan Chase & Co. lifted their target price on Syndax Pharmaceuticals from $39.00 to $41.00 and gave the stock an "overweight" rating in a report on Thursday, March 20th. Finally, HC Wainwright reissued a "buy" rating and issued a $51.00 price target on shares of Syndax Pharmaceuticals in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of "Moderate Buy" and a consensus price target of $35.91.

Insider Buying and Selling at Syndax Pharmaceuticals

In other news, insider Neil Gallagher sold 4,618 shares of the stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total value of $71,579.00. Following the completion of the sale, the insider now directly owns 85,095 shares of the company's stock, valued at $1,318,972.50. This represents a 5.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Keith A. Goldan sold 3,777 shares of the business's stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $15.50, for a total transaction of $58,543.50. Following the transaction, the chief financial officer now directly owns 90,746 shares in the company, valued at $1,406,563. The trade was a 4.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,683 shares of company stock valued at $336,087 in the last three months. 4.10% of the stock is currently owned by company insiders.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).