Zacks: Analysts Expect Syndax Pharmaceuticals Inc (SNDX) Will Announce Quarterly Sales of $380,000.00

Brokerages expect Syndax Pharmaceuticals Inc (NASDAQ:SNDX) to post $380,000.00 in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Syndax Pharmaceuticals’ earnings. Syndax Pharmaceuticals reported sales of $310,000.00 during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.6%. The business is scheduled to announce its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Syndax Pharmaceuticals will report full year sales of $1.66 million for the current year, with estimates ranging from $1.50 million to $2.11 million. For the next year, analysts anticipate that the business will post sales of $6.18 million, with estimates ranging from $1.40 million to $19.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Syndax Pharmaceuticals.

Syndax Pharmaceuticals (NASDAQ:SNDX) last released its quarterly earnings results on Tuesday, August 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.87) by $0.13. Syndax Pharmaceuticals had a negative return on equity of 80.35% and a negative net margin of 3,190.51%. The business had revenue of $0.38 million during the quarter, compared to analyst estimates of $0.38 million.

Several research firms have issued reports on SNDX. Citigroup cut their price target on Syndax Pharmaceuticals from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday. Zacks Investment Research lowered Syndax Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine raised Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, July 6th. Finally, HC Wainwright began coverage on Syndax Pharmaceuticals in a report on Thursday, July 12th. They set a “buy” rating and a $30.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $23.20.

NASDAQ:SNDX opened at $6.39 on Friday. Syndax Pharmaceuticals has a 52-week low of $6.10 and a 52-week high of $15.20. The stock has a market cap of $188.71 million, a price-to-earnings ratio of -2.20 and a beta of 1.27.

A number of large investors have recently added to or reduced their stakes in SNDX. BlackRock Inc. grew its holdings in Syndax Pharmaceuticals by 30.9% during the second quarter. BlackRock Inc. now owns 1,670,816 shares of the company’s stock valued at $11,729,000 after purchasing an additional 394,145 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Syndax Pharmaceuticals in the first quarter worth about $4,269,000. Stonepine Capital Management LLC bought a new position in shares of Syndax Pharmaceuticals in the second quarter worth about $1,393,000. Macquarie Group Ltd. bought a new position in shares of Syndax Pharmaceuticals in the second quarter worth about $1,264,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Syndax Pharmaceuticals by 77.7% in the first quarter. Dimensional Fund Advisors LP now owns 397,579 shares of the company’s stock worth $5,658,000 after acquiring an additional 173,821 shares during the period. 64.20% of the stock is owned by institutional investors and hedge funds.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapies for various cancer indications. The company's lead product candidate is Entinostat, which is in Phase 3 clinical trial for the treatment of hormone receptor positive or HR+, human epidermal growth factor receptor 2 negative or HER2-, and breast cancer; and Phase 1b/2 clinical trial.

Featured Story: How can investors find ex-dividend dates?

Get a free copy of the Zacks research report on Syndax Pharmaceuticals (SNDX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Syndax Pharmaceuticals (NASDAQ:SNDX)

Receive News & Ratings for Syndax Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Syndax Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply