Syndax Pharmaceuticals (SNDX) Dips More Than Broader Markets: What You Should Know
Syndax Pharmaceuticals (SNDX) closed at $20.10 in the latest trading session, marking a -0.94% move from the prior day. This move lagged the S&P 500's daily loss of 0.25%. At the same time, the Dow added 0.24%, and the tech-heavy Nasdaq lost 1.88%.
Prior to today's trading, shares of the biopharmaceutical company had lost 16.26% over the past month. This has lagged the Medical sector's gain of 0.24% and the S&P 500's gain of 1.48% in that time.
Syndax Pharmaceuticals will be looking to display strength as it nears its next earnings release. In that report, analysts expect Syndax Pharmaceuticals to post earnings of -$0.61 per share. This would mark year-over-year growth of 3.17%.
It is also important to note the recent changes to analyst estimates for Syndax Pharmaceuticals. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.34% lower. Syndax Pharmaceuticals is currently sporting a Zacks Rank of #3 (Hold).
The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 83, putting it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow SNDX in the coming trading sessions, be sure to utilize Zacks.com.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Syndax Pharmaceuticals, Inc. (SNDX) : Free Stock Analysis Report
