Scynexis Inc. (SCYX) Stock Price Down 1.9%
Scynexis Inc. (NASDAQ:SCYX) shares were down 1.9% on Friday . The company traded as low as $2.00 and last traded at $2.04, with a volume of 65,609 shares changing hands. The stock had previously closed at $2.08.
Several brokerages have recently commented on SCYX. Brean Capital reaffirmed a “buy” rating and issued a $16.00 target price on shares of Scynexis in a research note on Thursday, June 9th. Canaccord Genuity reiterated a “buy” rating on shares of Scynexis in a research report on Monday, April 18th. Needham & Company LLC reiterated a “buy” rating on shares of Scynexis in a research report on Tuesday, May 10th. Finally, Zacks Investment Research downgraded Scynexis from a “buy” rating to a “hold” rating in a research report on Thursday, July 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.71.
The firm’s market cap is $28.92 million. The company’s 50 day moving average is $2.15 and its 200-day moving average is $3.66.
Scynexis (NASDAQ:SCYX) last issued its earnings results on Monday, May 9th. The company reported ($0.52) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.11. Equities analysts predict that Scynexis Inc. will post ($2.01) EPS for the current fiscal year.
In other Scynexis news, Director Guy Macdonald bought 40,000 shares of the company’s stock in a transaction that occurred on Friday, June 24th. The shares were purchased at an average cost of $2.39 per share, for a total transaction of $95,600.00. Following the purchase, the director now directly owns 40,000 shares in the company, valued at $95,600. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gonzalez David Angulo bought 36,950 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were acquired at an average price of $2.22 per share, for a total transaction of $82,029.00. Following the completion of the purchase, the insider now owns 8,850 shares in the company, valued at $19,647. 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.