Scynexis Inc. (SCYX) Stock Price Up 2.4%
Scynexis Inc. (NASDAQ:SCYX)’s share price rose 2.4% on Wednesday . The company traded as high as $2.13 and last traded at $2.10, with a volume of 74,989 shares. The stock had previously closed at $2.05.
SCYX has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Scynexis from a “hold” rating to a “buy” rating and set a $3.25 price objective for the company in a research report on Wednesday, June 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price objective on shares of Scynexis in a research report on Thursday, June 9th. Brean Capital reissued a “buy” rating and issued a $16.00 price target on shares of Scynexis in a research report on Thursday, June 9th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Scynexis in a research report on Thursday, June 9th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $12.71.
The firm’s 50 day moving average price is $2.42 and its 200 day moving average price is $3.80. The stock’s market cap is $29.90 million.
Scynexis (NASDAQ:SCYX) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.52) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.11. Equities research analysts anticipate that Scynexis Inc. will post ($2.27) earnings per share for the current fiscal year.
In other news, insider Gonzalez David Angulo acquired 36,950 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was acquired at an average price of $2.22 per share, with a total value of $82,029.00. Following the completion of the transaction, the insider now directly owns 8,850 shares in the company, valued at approximately $19,647. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Marco Taglietti acquired 100,000 shares of the business’s stock in a transaction dated Friday, June 24th. The stock was purchased at an average cost of $2.39 per share, with a total value of $239,000.00. Following the transaction, the chief executive officer now owns 225,000 shares of the company’s stock, valued at $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.
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.