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Syndax Pharmaceuticals (SNDX) Dips More Than Broader Markets: What You Should Know

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In the latest trading session, Syndax Pharmaceuticals (SNDX - Free Report) closed at $22.30, marking a -1.24% move from the previous day. This change lagged the S&P 500's 0.7% loss on the day. Meanwhile, the Dow lost 0.87%, and the Nasdaq, a tech-heavy index, added 2.77%.

Heading into today, shares of the biopharmaceutical company had lost 13.98% over the past month, lagging the Medical sector's loss of 4.27% and the S&P 500's loss of 5.06% in that time.

Wall Street will be looking for positivity from Syndax Pharmaceuticals as it approaches its next earnings report date. The company is expected to report EPS of -$0.62, up 1.59% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for Syndax Pharmaceuticals. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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. Over the past month, the Zacks Consensus EPS estimate has moved 25% lower. Syndax Pharmaceuticals is holding a Zacks Rank of #4 (Sell) right now.

The Medical - Biomedical and Genetics industry is part of the Medical sector. This group has a Zacks Industry Rank of 100, putting it in the top 40% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

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