Review sndx


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Syndax Pharmaceuticals (SNDX) is a biopharmaceutical company that has recently reported its quarterly earnings. Here's a review of the company's performance and analysis:
- Financial Performance:
- Syndax reported a quarterly loss of $0.98 per share, which is an improvement from the previous year's loss of $0.73 per share1. This represents an earnings surprise of 13.27%, indicating that the company's actual performance was better than expected1.
- The company's revenue for the quarter was $12.5 million, surpassing the Zacks Consensus Estimate by 96.85%. This is a significant increase from the previous year's revenues of zero1.
- Over the last four quarters, Syndax has surpassed consensus EPS estimates three times, showing a trend of consistent performance improvement1.
- Market Performance and Analyst Ratings:
- Syndax's stock has experienced a decline of about 12.4% since the beginning of the year compared to the S&P 500's gain of 19.8%, indicating underperformance in the market1.
- Analysts have set a consensus price target of $35.90 for Syndax, which represents a potential upside of 93.92% from the current price2.
- The consensus rating for Syndax is "Moderate Buy" with nine analysts assigning a "buy" rating and one assigning a "hold" rating2.
- Institutional Activity:
- Assenagon Asset Management S.A. increased its stake in Syndax by 8.6% in the third quarter, indicating confidence from an institutional investor3.
- Vanguard Group Inc. raised its holdings by 13.6% in the first quarter, showing continued interest from another institutional investor3.
- Upcoming Events and Pipeline:
- Syndax is set to announce earnings on Tuesday, November 5, with analysts expecting a loss of $1.13 per share4.
- The company has several anticipated milestones, including the potential FDA approval of revumenib and the expected readout of topline data from the AUGMENT-101 trial for mNPM1 AML5.
- Syndax has a pipeline of cancer therapies, with revumenib and Niktimvo™ being highlighted at the 66th ASH Annual Meeting5.
In conclusion, Syndax Pharmaceuticals has shown positive financial performance with improved earnings and revenue. Despite some underperformance in the market, analysts remain optimistic about the company's potential for growth, as evidenced by the consensus price target and the positive institutional activity. The company's pipeline and upcoming milestones also suggest a promising future. Investors should monitor the earnings report on November 5 and the potential FDA approvals for future performance indications.
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