Syndax Pharmaceuticals, Inc. $SNDX Shares Acquired by Simplify Asset Management Inc.

Simplify Asset Management Inc. lifted its position in shares of Syndax Pharmaceuticals, Inc. (NASDAQ:SNDX) by 91.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,715 shares of the company’s stock after purchasing an additional 26,210 shares during the quarter. Simplify Asset Management Inc.’s holdings in Syndax Pharmaceuticals were worth $1,150,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sector Gamma AS acquired a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter worth approximately $3,243,000. Apis Capital Advisors LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter worth approximately $9,816,000. Palumbo Wealth Management LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $1,079,000. Torray Investment Partners LLC acquired a new stake in shares of Syndax Pharmaceuticals during the 4th quarter worth approximately $2,055,000. Finally, Keybank National Association OH acquired a new stake in shares of Syndax Pharmaceuticals during the 3rd quarter worth approximately $2,305,000.

Syndax Pharmaceuticals Stock Performance

Shares of NASDAQ:SNDX opened at $19.94 on Monday. Syndax Pharmaceuticals, Inc. has a 1 year low of $8.59 and a 1 year high of $25.59. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of -7.15 and a beta of 0.41. The company has a debt-to-equity ratio of 8.26, a current ratio of 5.47 and a quick ratio of 5.06. The business’s 50 day moving average price is $22.64 and its 200-day moving average price is $21.03.

Syndax Pharmaceuticals (NASDAQ:SNDX) last announced its earnings results on Thursday, April 30th. The company reported ($0.48) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.11. The firm had revenue of $64.86 million for the quarter, compared to analyst estimates of $69.76 million. Syndax Pharmaceuticals had a negative return on equity of 256.65% and a negative net margin of 111.88%.The business’s revenue was up 224.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.98) EPS. On average, equities research analysts forecast that Syndax Pharmaceuticals, Inc. will post -1.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SNDX shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $40.00 price objective (down from $48.00) on shares of Syndax Pharmaceuticals in a research note on Monday, March 30th. Citigroup increased their target price on Syndax Pharmaceuticals from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Syndax Pharmaceuticals in a research report on Friday, March 27th. JPMorgan Chase & Co. increased their target price on Syndax Pharmaceuticals from $33.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, March 9th. Finally, Stifel Nicolaus set a $45.00 target price on Syndax Pharmaceuticals in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.55.

Syndax Pharmaceuticals Company 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.