Scynexis Inc. (NASDAQ:SCYX) fell 2.4% during mid-day trading on Friday . The stock traded as low as $2.77 and last traded at $2.80, with a volume of 112,069 shares changing hands. The stock had previously closed at $2.87.

Several brokerages recently issued reports on SCYX. WBB Securities upgraded shares of Scynexis from a “speculative buy” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Tuesday, August 9th. Brean Capital reiterated 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 note on Thursday, June 9th. Needham & Company LLC lowered their price target on shares of Scynexis from $16.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, August 9th. Finally, Zacks Investment Research cut shares of Scynexis from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Seven research analysts have rated the stock with a buy rating, Scynexis currently has an average rating of “Buy” and a consensus target price of $12.18.

The company has a 50-day moving average of $2.35 and a 200 day moving average of $3.35. The firm’s market cap is $64.65 million.

Scynexis (NASDAQ:SCYX) last posted its earnings results on Monday, August 8th. The company reported ($0.56) EPS for the quarter, missing the consensus estimate of ($0.52) by $0.04. Equities analysts predict that Scynexis Inc. will post ($2.13) EPS for the current fiscal year.

In other Scynexis news, Director Guy Macdonald bought 40,000 shares of the firm’s stock in a transaction dated Friday, June 24th. The stock was bought at an average cost of $2.39 per share, with a total value of $95,600.00. Following the completion of the transaction, the director now directly owns 40,000 shares in the company, valued at approximately $95,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gonzalez David Angulo bought 36,950 shares of the firm’s stock in a transaction dated Thursday, June 30th. The shares were acquired at an average cost of $2.22 per share, with a total value of $82,029.00. Following the completion of the transaction, the insider now owns 8,850 shares of the company’s stock, 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.

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