SCYNEXIS, Inc. (SCYX) Receives Average Rating of “Buy” from Analysts
Shares of SCYNEXIS, Inc. (NASDAQ:SCYX) have been assigned a consensus rating of “Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $8.40.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of SCYNEXIS from a “hold” rating to a “buy” rating and set a $2.75 target price on the stock in a report on Tuesday, October 10th. Guggenheim began coverage on shares of SCYNEXIS in a research note on Tuesday, October 24th. They issued a “buy” rating and a $6.00 price objective on the stock. HC Wainwright set a $14.00 price objective on shares of SCYNEXIS and gave the company a “buy” rating in a research note on Wednesday, August 16th. Finally, ValuEngine lowered shares of SCYNEXIS from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 22nd.
Institutional investors have recently added to or reduced their stakes in the stock. National Asset Management Inc. acquired a new position in shares of SCYNEXIS during the 2nd quarter valued at $551,000. Federated Investors Inc. PA raised its holdings in SCYNEXIS by 23.5% during the second quarter. Federated Investors Inc. PA now owns 4,208,400 shares of the company’s stock worth $7,533,000 after buying an additional 800,040 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in SCYNEXIS by 1.4% during the first quarter. Bank of New York Mellon Corp now owns 37,523 shares of the company’s stock worth $103,000 after buying an additional 512 shares during the last quarter. DAFNA Capital Management LLC raised its holdings in SCYNEXIS by 32.7% during the second quarter. DAFNA Capital Management LLC now owns 506,900 shares of the company’s stock worth $907,000 after buying an additional 125,000 shares during the last quarter. Finally, GSA Capital Partners LLP raised its holdings in SCYNEXIS by 33.7% during the second quarter. GSA Capital Partners LLP now owns 176,700 shares of the company’s stock worth $316,000 after buying an additional 44,500 shares during the last quarter. Institutional investors own 30.45% of the company’s stock.
SCYNEXIS (NASDAQ SCYX) traded up $0.06 on Monday, reaching $1.94. 133,110 shares of the company’s stock were exchanged, compared to its average volume of 340,665. SCYNEXIS has a 52-week low of $1.52 and a 52-week high of $4.04. The company has a debt-to-equity ratio of 0.43, a quick ratio of 7.30 and a current ratio of 7.30.
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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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