Wall Street Flocks to Syndax Pharmaceuticals, Inc. (SNDX) Based On Current Technicals

Syndax Pharmaceuticals, Inc. (SNDX), a Biotechnology business, was a gaining stock in the stock market session. Syndax Pharmaceuticals, Inc. (SNDX) shares opened at $18.35 and closed the day at $18.03 with positive move of +0.11%. This increase change lagged the S&P 500’s +1.69% gain on the stock market session.

Syndax Pharmaceuticals, Inc. (SNDX) is focused on the Biotechnology sector. This stock market sector has seen some action from traders in recent months. Bullish traders of Syndax Pharmaceuticals, Inc. (SNDX) will be looking for positive upcoming earnings whereas bearish traders of Syndax Pharmaceuticals, Inc. (SNDX) will be looking for negative earnings. The last time Syndax Pharmaceuticals, Inc. (SNDX) had an earnings surprise was on Qtr Ending 03/20 when they reported -$0.56 compared to an estimate of -$0.51 which was a difference of -$0.05 resulting in a change of -9.80%. Current earnings estimates are to be released for Current Qtr 06/2020 on Syndax Pharmaceuticals, Inc. (SNDX) and out of 3 Wall Street estimates the average is saying -$0.52. The high estimate is saying -$0.49 whereas the low estimate is saying -$0.57 and the prior year Syndax Pharmaceuticals, Inc. (SNDX) announced earnings at -$0.47 a growth rate est. (year over year) of -10.64%.

The market performance of Syndax Pharmaceuticals, Inc. (SNDX) has varied recently. Year to date Syndax Pharmaceuticals, Inc. (SNDX)’s shares are up 105.35%. Over the past 12 weeks Syndax Pharmaceuticals, Inc. (SNDX) is up 88.40% and over the last 4 weeks Syndax Pharmaceuticals, Inc. (SNDX) is up 77.81%. Syndax Pharmaceuticals, Inc. (SNDX) current income statement shows revenue (ttm) of $1.52M. Gross Profit is $1.52M. This puts the current EBITDA of Syndax Pharmaceuticals, Inc. (SNDX) at $-57.73M.

Wall street traders might also notice recent changes to stock analyst estimates for Syndax Pharmaceuticals, Inc. (SNDX). The stock is trading with an RSI (relative strength index) of 67.35 indicating Syndax Pharmaceuticals, Inc. (SNDX) is neither overbought nor oversold. Technically, SNDX’s short term support levels are around $1367.66, $1334.96 and $1286.57 on the downside. SNDXs short term resistance levels are $1526.69, $1493.59 and $1432.99 on the upside. The market cap of Syndax Pharmaceuticals, Inc. (SNDX) is $545.242M and institutions hold 56.57% of the stock. The outstanding share count stands at 35.69M while the short float (shares short) stands at 5.39%.

Research indicates that these financial estimate changes look to be directly correlated with short-term shares prices. The traders can look to capitalize on the basis of ranking. Based on technical analysis, SNDX has short term rating of Bullish (0.38), Intermediate rating of Bullish (0.35) and the long-term rating of Bullish (0.46) giving it an overall rating of Bullish (0.40).

The EPS growth this year on Syndax Pharmaceuticals, Inc. (SNDX) is increased 36.90% and is expected to increase 14.50% next year. However, quarterly earnings (EPS) growth year over year on Syndax Pharmaceuticals, Inc. (SNDX) has increased by 37.00% while return on equity (ttm) is -122.00%.

Recent Developments:

2020-05-07 – Syndax Pharmaceuticals Q1 Loss Per Share $0.56.
2020-04-29 – Syndax Announces Proposed Public Offering Of Common Stock.
2020-01-31 – Syndax Announces $35.0 Million Offering Of Common Stock.
2020-01-10 – Syndax Pharma Highlights 2020 Clinical and Corporate Outlook.
2019-11-07 – Syndax Pharmaceuticals Reports Q3 Loss Per Share Of $0.41.

About Company:

Syndax Pharmaceuticals, Inc. is a biopharmaceutical company which focused on the development and commercialization of entinostat, an epigenetic therapy for treatment-resistant cancers. The Company’s product pipeline includes ENCORE 601, ENCORE 602, J1353, NCI-7870, NCI-9844, E2112, NCI-8871 and NCI-9253 which are in clinical trial stage.

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