What is HC Wainwright’s Forecast for SNDX FY2024 Earnings?

Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) – Equities researchers at HC Wainwright boosted their FY2024 earnings per share (EPS) estimates for Syndax Pharmaceuticals in a research note issued on Monday, November 18th. HC Wainwright analyst E. White now anticipates that the company will post earnings of ($3.75) per share for the year, up from their prior estimate of ($3.83). HC Wainwright has a “Buy” rating and a $51.00 price objective on the stock. The consensus estimate for Syndax Pharmaceuticals’ current full-year earnings is ($3.61) per share. HC Wainwright also issued estimates for Syndax Pharmaceuticals’ Q4 2024 earnings at ($1.11) EPS, FY2025 earnings at ($3.76) EPS and FY2026 earnings at ($2.98) EPS.

A number of other brokerages have also commented on SNDX. JPMorgan Chase & Co. decreased their price objective on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Barclays raised their price target on Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Stifel Nicolaus boosted their price objective on Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. StockNews.com raised shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Finally, The Goldman Sachs Group boosted their price target on shares of Syndax Pharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $37.18.

Syndax Pharmaceuticals Price Performance

SNDX opened at $15.77 on Wednesday. The stock has a market capitalization of $1.35 billion, a P/E ratio of -4.34 and a beta of 0.92. The company’s 50 day simple moving average is $18.82 and its 200-day simple moving average is $20.15. Syndax Pharmaceuticals has a one year low of $14.97 and a one year high of $25.34.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings data on Tuesday, November 5th. The company reported ($0.98) EPS for the quarter, topping analysts’ consensus estimates of ($1.13) by $0.15. The company had revenue of $12.50 million for the quarter, compared to the consensus estimate of $9.16 million. During the same period in the prior year, the company earned ($0.73) EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Syndax Pharmaceuticals during the second quarter worth about $27,000. Values First Advisors Inc. acquired a new stake in shares of Syndax Pharmaceuticals during the third quarter worth $30,000. nVerses Capital LLC bought a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at $33,000. Quantbot Technologies LP acquired a new position in Syndax Pharmaceuticals in the 3rd quarter worth $49,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Syndax Pharmaceuticals by 21.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after purchasing an additional 541 shares in the last quarter.

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).