Syndax Pharmaceuticals, Inc. (SNDX)

NASDAQHealth CareBiotechnologySnapshot 2026-10-23

$13.40-1.25%

Close 2026-10-23 · 1-day change

Investment OutlookAs of Oct 24, 2026

What could strengthen or challenge Syndax Pharmaceuticals, Inc.’s outlook?

The long-term thesis, the evidence coming in, and the environment around it. Thesis dated Jul 8, 2026.

Higher potential upsideImproving expectations

Next-FY EPS estimate change · 30 days

Comparable estimates unavailable

+10% or more+5%0%−5%−10% or less

A matching fiscal period and sufficient coverage are required.

Higher risk of downsideWeakening expectations

One observable signal. This measures changing earnings expectations, not the probability of a gain or loss.

How this is measured

The calculation requires same-period, same-provider snapshots, positive EPS, at least five analysts and a baseline within three days of the requested lookback.

Measure / period	Management expectations	Analyst expectations
Quarter ending 2026-12-30
Revenue	—	95.93M
EPS	—	-0.461
Annual ending 2026-12-31
Revenue	—	314.14M
EPS	—	-2.017
Annual ending 2027-12-31
Revenue	—	459.15M
EPS	—	-0.816

Management figures unavailable.

What the Thesis Depends On

Three published thesis conditions, with dated milestones shown separately.

Key Factor	Why It Matters	Current Status	Break Condition	Latest Evidence
Raise $250 million in convertible senior notes	The company raised $250M in convertible notes to strengthen its finances.	Intact	Failure to raise or maintain $250 million in convertible notes	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Operating losses reduced to about -$34M	They are cutting operating losses, improving from -$69.4M to -$34.2M.	Under Pressure	Operating losses worsen beyond -$34.2 million	Operating income: $-39.995M FY2026-Q2; GAAP. Published target: Operating income >= -$34.2 million. The stored target says 2026-Q1; this source reports FY2026-Q2. Fiscal/calendar alignment needs review. Source published Aug 4, 2026-39,995,000 USD · source valueSource reportLast status assessment Oct 24, 2026 Measurement source consolidated · GAAP FY2026-Q2 · Period ending Jun 30, 2026 Source: company_financial_results. Reference: 34a1b688-b813-489a-8b01-6407d40285e6. Source status: eligible. Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.
Revenue growth to at least $385M in 2025	A primary condition in Syndax Pharmaceuticals, Inc.'s published investment case. The stated target is >= $385 million.	Intact	Revenue falls below $380 million in FY25	Direct metric needs a verified mapping The published measure or accounting basis is not supported by an exact source binding. Source date unavailableLast status assessment Oct 24, 2026Compare required operating outcomes Compare scope, accounting basis and period before treating this evidence as progress against an annual requirement.

Stored thesis · Jul 8, 2026. Latest Evidence uses source-matched measurements where available, alongside the last thesis-monitor assessment. Source periods and assessment dates are shown separately. A new measurement does not automatically change the published status or verify an older target.

Incoming Evidence

Compare these dated observations with the operating requirements above

Expectations trend

Same fiscal period

FY2027 · fiscal year ending 2027-12-31 · fmp

FY2027 EPS$-0.82

$-0.47 → $-0.82 · observed estimates

FY2027 revenue$0.46B

$0.50B → $0.46B · observed estimates

Exact estimates & source dates

One fiscal period and provider throughout. At least five contributors are required for each plotted metric; missing coverage stays a gap. Axes show the observed range. Counts measure coverage, not revisions.

FY2027 estimate observations · fmp
Snapshot	EPS	Revenue	EPS / revenue analysts
2026-07-24	$-0.47	$503,899,312	9 / 9
2026-07-25	$-0.36	$503,921,220	11 / 11
2026-07-26	$-0.36	$503,921,220	11 / 11
2026-07-27	$-0.36	$503,921,220	11 / 11
2026-07-28	$-0.36	$503,921,220	11 / 11
2026-07-29	$-0.36	$503,921,220	11 / 11
2026-07-30	$-0.36	$503,921,220	11 / 11
2026-07-31	$-0.47	$503,899,312	8 / 9
2026-08-01	$-0.47	$503,899,312	8 / 9
2026-08-02	$-0.36	$503,921,220	11 / 11
2026-08-03	$-0.47	$503,899,312	8 / 9
2026-08-04	$-0.47	$503,899,312	8 / 9
2026-08-05	$-0.47	$503,899,312	8 / 9
2026-08-06	$-0.47	$503,899,312	8 / 9
2026-08-08	$-0.38	$480,819,450	9 / 11
2026-08-09	$-0.38	$480,819,450	9 / 11
2026-08-10	$-0.67	$480,824,000	8 / 9
2026-08-12	$-0.67	$480,824,000	8 / 9
2026-08-13	$-0.65	$474,869,410	11 / 11
2026-08-14	$-0.67	$480,824,000	8 / 9
2026-08-15	$-0.67	$480,824,000	8 / 9
2026-08-16	$-0.67	$480,824,000	8 / 9
2026-08-17	$-0.67	$480,824,000	8 / 9
2026-08-18	$-0.67	$480,824,000	8 / 9
2026-08-19	$-0.67	$480,824,000	8 / 9
2026-08-20	$-0.84	$465,533,051	9 / 9
2026-08-21	$-0.84	$465,533,051	9 / 9
2026-08-22	$-0.80	$463,105,814	9 / 9
2026-08-23	$-0.80	$463,105,814	9 / 9
2026-08-24	$-0.80	$463,105,814	8 / 9
2026-08-25	$-0.80	$463,105,814	8 / 9
2026-08-26	$-0.80	$463,105,814	8 / 9
2026-08-27	$-0.80	$463,105,814	8 / 9
2026-08-28	$-0.80	$463,105,814	8 / 9
2026-08-29	$-0.80	$463,105,814	8 / 9
2026-08-30	$-0.80	$463,105,814	8 / 9
2026-08-31	$-0.80	$463,105,814	8 / 9
2026-09-01	$-0.80	$463,105,814	8 / 9
2026-09-02	$-0.80	$463,105,814	8 / 9
2026-09-03	$-0.80	$463,105,814	8 / 9
2026-09-04	$-0.80	$463,105,814	8 / 9
2026-09-05	$-0.80	$463,105,814	8 / 9
2026-09-06	$-0.80	$463,105,814	8 / 9
2026-09-07	$-0.80	$463,105,814	8 / 9
2026-09-08	$-0.80	$463,105,814	8 / 9
2026-09-09	$-0.80	$463,105,269	8 / 9
2026-09-10	$-0.80	$463,105,269	8 / 9
2026-09-11	$-0.80	$463,105,269	8 / 9
2026-09-12	$-0.80	$463,105,269	8 / 9
2026-09-13	$-0.80	$463,105,269	8 / 9
2026-09-14	$-0.80	$463,105,269	8 / 9
2026-09-15	$-0.80	$463,105,269	8 / 9
2026-09-16	$-0.80	$463,105,269	8 / 9
2026-09-17	$-0.80	$463,105,269	8 / 9
2026-09-18	$-0.80	$463,105,269	8 / 9
2026-09-19	$-0.80	$463,105,269	8 / 9
2026-09-20	$-0.80	$463,105,269	8 / 9
2026-09-21	$-0.80	$463,105,269	8 / 9
2026-09-22	$-0.80	$463,105,269	8 / 9
2026-09-23	$-0.80	$463,105,269	8 / 9
2026-09-24	$-0.80	$463,105,269	8 / 9
2026-09-25	$-0.80	$463,105,269	8 / 9
2026-09-26	$-0.80	$463,105,269	8 / 9
2026-09-27	$-0.80	$463,105,269	8 / 9
2026-09-28	$-0.80	$463,105,269	8 / 9
2026-09-29	$-0.80	$463,105,269	8 / 9
2026-09-30	$-0.80	$463,105,269	8 / 9
2026-10-01	$-0.80	$463,105,269	8 / 9
2026-10-02	$-0.80	$463,105,269	8 / 9
2026-10-03	$-0.83	$459,150,632	8 / 9
2026-10-04	$-0.83	$459,150,632	8 / 9
2026-10-05	$-0.83	$459,150,632	8 / 9
2026-10-06	$-0.83	$459,150,632	8 / 9
2026-10-07	$-0.83	$459,150,632	8 / 9
2026-10-08	$-0.83	$459,150,632	8 / 9
2026-10-09	$-0.83	$459,150,632	8 / 9
2026-10-10	$-0.83	$459,150,632	8 / 9
2026-10-11	$-0.83	$459,150,632	8 / 9
2026-10-12	$-0.83	$459,150,632	8 / 9
2026-10-13	$-0.83	$459,146,087	8 / 9
2026-10-14	$-0.82	$459,146,087	8 / 9
2026-10-15	$-0.82	$459,146,087	8 / 9
2026-10-16	$-0.82	$459,146,087	8 / 9
2026-10-17	$-0.82	$459,146,087	8 / 9
2026-10-18	$-0.82	$459,146,087	8 / 9
2026-10-19	$-0.82	$459,146,087	8 / 9
2026-10-20	$-0.82	$459,146,087	8 / 9
2026-10-21	$-0.82	$459,146,087	8 / 9
2026-10-22	$-0.82	$459,146,087	8 / 9
2026-10-23	$-0.82	$459,146,087	8 / 9
2026-10-24	$-0.82	$459,146,087	8 / 9

Revenue and EPS estimates track expectations. They are not delivered results or like-for-like proof of a required annual path.

Compare required revenue and earnings

Analyst view

Monthly observations

Buy / Strong BuyHoldSell / Strong Sell

Exact monthly counts

Monthly rating snapshots · fmp. Missing snapshots are not zero.
Date	Buy*	Hold	Sell*
2026-05-01	13	0	0
2026-06-01	13	0	0
2026-07-01	13	0	0
2026-08-01	12	0	0
2026-09-01	12	0	0
2026-10-01	12	0	0

*Buy includes Strong Buy; Sell includes Strong Sell. Monthly counts describe the analyst mix, not the firms behind each recent action.

Latest: 12 Buy / Strong Buy · 0 Hold · 0 Sell / Strong Sell

0 upgrades0 downgrades1 maintains

Recent actions · Sep 25–Oct 24 · 1 recorded

Price-target changes

30 days

○ Previous · ● Latest · common dollar scale

JefferiesSep 29

$35.00New observation · no comparable prior

$0$19.25$38.50

0 raises · 0 cuts · 0 unchanged · 1 without a comparable prior

How this is measured

Sep 25, 2026–Oct 24, 2026. Each firm's latest positive target is paired only with its immediately prior positive target from the same provider, at most 180 days earlier. Unmatched observations have one dot; conflicting observations are not compared.

Outlook in Brief

The evidence, the remaining questions, and what comes next

What's improving

No recovery evidence is reported in the available driver assessments.

Still unresolved / key risks

Raise $250 million in convertible senior notesDirect metric needs a verified mapping
Operating losses reduced to about -$34MPublished status: Under Pressure
Revenue growth to at least $385M in 2025Direct metric needs a verified mapping

Next proof point

Nov 2, 2026

Look for updated results and guidance against the published targets, plus direct evidence for unresolved drivers.

Review earnings

Bottom line

3 of 3 published conditions remain under pressure or need verification. The next results need to address those conditions.

The dated weekly assessment and its assumptions are available in Read detailed Outlook.

Historical risk context

Observed price history; separate from operating scenarios

Price sensitivity

2.0%Typical daily move · historical

Downside history

-48.7%Maximum drawdown · trailing year

Read detailed Outlook Company context, assumptions & risks

Syndax Pharmaceuticals, Inc. outlook in detail

The weekly editorial context below is a separate assessment from the dated monitor evidence above. Recovery observations do not automatically change the published thesis. Unverified outside influences are hypotheses, not measured driver evidence.

Updated Oct 24, 2026

What kind of bet this is

This is a clinical-stage biotech with growing commercial products, not a proven profitable compounder. The multi-year view is intact, supported by recent growth in Revuforj and Niktimvo, while the company remains loss-making and the risk level is elevated.

What's priced into Syndax Pharmaceuticals, Inc.

The valuation evidence points to SNDX being cheap versus peers, but confidence in that comparison is low. The expectations gap is negative, suggesting expectations are not especially supportive, though the snapshot labels what is priced in as justified and reports no fragility flags.

What the fundamentals likely do

Near term, Revuforj and Niktimvo have continued to grow, and management reports clinical progress; both priorities are on track. The latest results included an earnings miss, and the next report carries meaningful uncertainty, with a 50% miss probability in the snapshot. Losses and early-stage pipeline work remain important constraints on the multi-year case.

What Syndax Pharmaceuticals, Inc. hinges on

The thesis depends on continued commercial growth and progress in the ongoing trials, including whether the new pipeline programs advance as planned. A guidance cut would be a significant negative, while weaker employment data could weigh on cyclical healthcare names; continued strength from sector bellwethers could support the broader sector backdrop.