HC Wainwright set a $5.00 price target on SCYNEXIS (NASDAQ:SCYX) in a report released on Wednesday morning. The firm currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on SCYX. Canaccord Genuity assumed coverage on SCYNEXIS in a research note on Friday, June 29th. They issued a buy rating and a $4.00 price objective on the stock. Maxim Group initiated coverage on SCYNEXIS in a research report on Wednesday, June 27th. They set a buy rating and a $6.00 price target on the stock. ValuEngine upgraded SCYNEXIS from a sell rating to a hold rating in a research report on Wednesday, May 2nd. Needham & Company LLC upgraded SCYNEXIS from a hold rating to a buy rating and set a $5.00 price target on the stock in a research report on Wednesday. Finally, Roth Capital initiated coverage on SCYNEXIS in a research report on Tuesday, May 8th. They set a buy rating and a $6.00 price target on the stock. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. SCYNEXIS has a consensus rating of Buy and an average target price of $5.14.

SCYX stock opened at $1.93 on Wednesday. SCYNEXIS has a 1-year low of $1.05 and a 1-year high of $2.50. The company has a market capitalization of $89.94 million, a PE ratio of -1.91 and a beta of 0.49. The company has a debt-to-equity ratio of 0.30, a quick ratio of 5.93 and a current ratio of 5.93.

SCYNEXIS (NASDAQ:SCYX) last released its quarterly earnings data on Tuesday, May 8th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.18) by $0.06. SCYNEXIS had a negative return on equity of 78.78% and a negative net margin of 9,450.00%. The company had revenue of $0.06 million for the quarter, compared to analyst estimates of $0.10 million. analysts forecast that SCYNEXIS will post -0.65 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SCYX. Federated Investors Inc. PA grew its position in SCYNEXIS by 63.2% during the 1st quarter. Federated Investors Inc. PA now owns 6,868,400 shares of the company’s stock worth $9,204,000 after acquiring an additional 2,660,000 shares during the last quarter. Caxton Corp bought a new stake in SCYNEXIS during the 1st quarter worth approximately $2,566,000. CVI Holdings LLC bought a new stake in SCYNEXIS during the 1st quarter worth approximately $1,746,000. DAFNA Capital Management LLC grew its position in SCYNEXIS by 222.9% during the 1st quarter. DAFNA Capital Management LLC now owns 1,636,900 shares of the company’s stock worth $2,193,000 after acquiring an additional 1,130,000 shares during the last quarter. Finally, Iguana Healthcare Management LLC grew its position in SCYNEXIS by 60.0% during the 1st quarter. Iguana Healthcare Management LLC now owns 400,000 shares of the company’s stock worth $536,000 after acquiring an additional 150,000 shares during the last quarter. Institutional investors and hedge funds own 49.00% of the company’s stock.

About SCYNEXIS

SCYNEXIS, Inc, a drug development company, develops and commercializes anti-infectives to address unmet therapeutic needs. It is developing its lead product candidate, SCY-078, as a novel oral and intravenous drug for the treatment of various fungal infections, including serious and life-threatening invasive fungal infections.

Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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