SCYNEXIS Inc (SCYX) Given Average Rating of “Buy” by Brokerages
Shares of SCYNEXIS Inc (NASDAQ:SCYX) have earned an average recommendation of “Buy” from the ten research firms that are currently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $5.29.
Several analysts recently issued reports on SCYX shares. Zacks Investment Research downgraded SCYNEXIS from a “buy” rating to a “hold” rating in a research note on Saturday, January 26th. ValuEngine upgraded SCYNEXIS from a “hold” rating to a “buy” rating in a research note on Thursday, November 1st. Maxim Group set a $4.00 price target on SCYNEXIS and gave the company a “buy” rating in a research note on Tuesday, November 13th. Finally, HC Wainwright set a $5.00 price target on SCYNEXIS and gave the company a “buy” rating in a research note on Tuesday, October 23rd.
Shares of SCYX stock traded up $0.18 during trading on Monday, reaching $1.34. 3,152,070 shares of the company’s stock were exchanged, compared to its average volume of 1,961,073. The company has a current ratio of 4.53, a quick ratio of 4.53 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $57.28 million, a PE ratio of -1.33 and a beta of 2.28. SCYNEXIS has a twelve month low of $0.35 and a twelve month high of $2.15.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in SCYNEXIS in the 2nd quarter valued at $190,000. BlackRock Inc. lifted its position in shares of SCYNEXIS by 61.5% during the 2nd quarter. BlackRock Inc. now owns 180,751 shares of the company’s stock valued at $296,000 after acquiring an additional 68,830 shares during the period. Stonepine Capital Management LLC bought a new stake in shares of SCYNEXIS during the 3rd quarter valued at $539,000. Northern Trust Corp lifted its position in shares of SCYNEXIS by 132.7% during the 2nd quarter. Northern Trust Corp now owns 116,079 shares of the company’s stock valued at $190,000 after acquiring an additional 66,193 shares during the period. Finally, Private Advisor Group LLC bought a new stake in shares of SCYNEXIS during the 3rd quarter valued at $240,000. Institutional investors and hedge funds own 41.53% of the company’s stock.
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.
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