Syndax Pharmaceuticals (SNDX) Stock Sinks As Market Gains: What You Should Know
Syndax Pharmaceuticals (SNDX) closed the most recent trading day at $23.07, moving -0.26% from the previous trading session. This move lagged the S&P 500's daily gain of 1.3%. Elsewhere, the Dow gained 0.98%, while the tech-heavy Nasdaq added 7.48%.
Coming into today, shares of the biopharmaceutical company had lost 11.58% in the past month. In that same time, the Medical sector lost 3.29%, while the S&P 500 lost 2.95%.
Wall Street will be looking for positivity from Syndax Pharmaceuticals as it approaches its next earnings report date. On that day, Syndax Pharmaceuticals is projected to report earnings of -$0.61 per share, which would represent year-over-year growth of 3.17%.
Investors should also note any recent changes to analyst estimates for Syndax Pharmaceuticals. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 26.14% lower. Syndax Pharmaceuticals is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Biomedical and Genetics industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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
To read this article on Zacks.com click here.