Simplify Asset Management Inc. Grows Stock Holdings in Syndax Pharmaceuticals, Inc. $SNDX

Simplify Asset Management Inc. raised its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 91.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,715 shares of the company’s stock after buying an additional 26,210 shares during the quarter. Simplify Asset Management Inc. owned about 0.06% of Syndax Pharmaceuticals worth $1,150,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Sector Gamma AS purchased a new stake in shares of Syndax Pharmaceuticals during the third quarter valued at about $3,243,000. Palumbo Wealth Management LLC purchased a new stake in shares of Syndax Pharmaceuticals during the fourth quarter valued at about $1,079,000. Apis Capital Advisors LLC acquired a new position in shares of Syndax Pharmaceuticals during the third quarter valued at about $9,816,000. Torray Investment Partners LLC acquired a new position in shares of Syndax Pharmaceuticals during the fourth quarter valued at about $2,055,000. Finally, Keybank National Association OH acquired a new position in shares of Syndax Pharmaceuticals during the third quarter valued at about $2,305,000.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SNDX. Weiss Ratings restated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a report on Friday, March 27th. The Goldman Sachs Group upped their price objective on shares of Syndax Pharmaceuticals from $28.00 to $34.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. JPMorgan Chase & Co. upped their price objective on shares of Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, March 9th. Wall Street Zen upgraded shares of Syndax Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Sunday, March 8th. Finally, Stifel Nicolaus set a $45.00 price objective on shares of Syndax Pharmaceuticals in a report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Syndax Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.55.

Syndax Pharmaceuticals Price Performance

Shares of NASDAQ:SNDX opened at $19.94 on Monday. Syndax Pharmaceuticals, Inc. has a twelve month low of $8.59 and a twelve month high of $25.59. The company’s 50 day moving average is $22.64 and its 200 day moving average is $21.03. The company has a current ratio of 5.47, a quick ratio of 5.06 and a debt-to-equity ratio of 8.26. The company has a market cap of $1.77 billion, a PE ratio of -7.15 and a beta of 0.41.

Syndax Pharmaceuticals (NASDAQ:SNDX) last issued its quarterly earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share for the quarter, topping the consensus estimate of ($0.59) by $0.11. Syndax Pharmaceuticals had a negative net margin of 111.88% and a negative return on equity of 256.65%. The company had revenue of $64.86 million for the quarter, compared to the consensus estimate of $69.76 million. During the same quarter in the prior year, the company earned ($0.98) EPS. Syndax Pharmaceuticals’s quarterly revenue was up 224.3% on a year-over-year basis. On average, sell-side analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.66 EPS for the current year.

Syndax Pharmaceuticals Profile

Syndax Pharmaceuticals is a clinical-stage biopharmaceutical company dedicated to developing novel therapies for the treatment of cancer. Headquartered in Waltham, Massachusetts, the company focuses on small-molecule inhibitors that target key epigenetic and protein interaction pathways. Syndax’s research platform aims to enhance the effectiveness of existing therapies and address high unmet medical needs in oncology.

The company’s lead investigational candidate, entinostat, is a selective class I histone deacetylase (HDAC) inhibitor being evaluated for multiple solid tumor and hematologic indications.