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Syndax Pharmaceuticals Inc. (NASDAQ:SNDX) stock has reached a 52-week low, trading at $12.05, representing a 52% decline from its high of $25.07, as the biopharmaceutical company faces a challenging market environment. According to InvestingPro analysis, the company maintains a strong liquidity position with a current ratio of 5.82x. This latest price point reflects a significant downturn from previous periods, with the stock experiencing a 1-year change of -47.23%. Investors are closely monitoring the company’s performance, as the current valuation marks a critical juncture for Syndax, which specializes in developing cancer therapies. While the company holds more cash than debt on its balance sheet, InvestingPro data shows analysts expect significant sales growth this year, with 4 analysts recently revising their earnings expectations upward. The market is awaiting the company’s strategic moves to recover from this low and improve its position in the competitive pharmaceutical landscape. For comprehensive analysis of SNDX and 1,400+ other stocks, access the full Pro Research Report on InvestingPro.
In other recent news, Syndax Pharmaceuticals reported its fourth-quarter 2024 earnings, revealing an earnings per share (EPS) of ($1.10), which matched H.C. Wainwright’s estimate but fell short of the consensus estimate of ($0.84). The company also announced $7.7 million in net revenue for its product REVUFORJ, significantly surpassing the consensus estimate of $2 million. This strong performance was noted by BTIG, which maintained a Buy rating with a $43 price target. The revenue was achieved within the first five weeks of the product launch, indicating positive market traction.
Despite the impressive sales figures, Syndax’s overall revenue of $7.68 million fell short of the $25.2 million forecast, as noted in the earnings call. Goldman Sachs adjusted its price target for Syndax to $31 from $33, while maintaining a Buy rating, citing confidence in the company’s pipeline prospects. B.Riley also revised its price target to $29 from $36, maintaining a Buy rating, but moderated long-term revenue expectations due to potential competition.
Syndax’s R&D expenses for the fourth quarter were $65.5 million, with SG&A expenses at $37.7 million. The company has provided guidance for first-quarter 2025 R&D expenses to be between $65 million and $70 million, with combined R&D and SG&A expenses projected to be between $105 million and $110 million. Looking forward, the company plans to submit a supplemental New Drug Application for revumenib in the second quarter of 2025, with potential approval by the end of the year.
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