Shares of Scynexis Inc. (NASDAQ:SCYX) shot up 7.8% on Wednesday . The company traded as high as $2.10 and last traded at $2.08, with a volume of 189,538 shares changing hands. The stock had previously closed at $1.93.

A number of research firms recently weighed in on SCYX. Zacks Investment Research downgraded Scynexis from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Scynexis in a report on Thursday, June 9th. Canaccord Genuity restated a “buy” rating on shares of Scynexis in a report on Thursday, June 9th. Finally, Brean Capital restated a “buy” rating and issued a $16.00 price objective on shares of Scynexis in a report on Thursday, June 9th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.71.

The firm has a 50 day moving average price of $2.19 and a 200 day moving average price of $3.68. The firm’s market capitalization is $28.72 million.

Scynexis (NASDAQ:SCYX) last announced its quarterly earnings results on Monday, May 9th. The company reported ($0.52) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.11. Analysts predict that Scynexis Inc. will post ($2.01) earnings per share for the current year.

In related news, insider Gonzalez David Angulo acquired 36,950 shares of the company’s stock in a transaction dated Thursday, June 30th. The stock was bought at an average cost of $2.22 per share, with a total value of $82,029.00. Following the acquisition, the insider now owns 8,850 shares of the company’s stock, valued at approximately $19,647. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marco Taglietti acquired 100,000 shares of the company’s stock in a transaction dated Friday, June 24th. The shares were bought at an average cost of $2.39 per share, with a total value of $239,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 225,000 shares in the company, valued at approximately $537,750. The disclosure for this purchase can be found here.

SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains.

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