Wall Street Zen Upgrades SCYNEXIS (NASDAQ:SCYX) to “Strong-Buy”

SCYNEXIS (NASDAQ:SCYX) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SCYNEXIS in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, SCYNEXIS has an average rating of “Hold” and a consensus price target of $3.00.

SCYNEXIS Price Performance

SCYNEXIS stock opened at $0.80 on Friday. The business has a 50 day moving average of $0.72 and a 200-day moving average of $0.75. The company has a market capitalization of $35.73 million, a P/E ratio of -4.71 and a beta of 1.33. SCYNEXIS has a 1 year low of $0.57 and a 1 year high of $1.31.

SCYNEXIS (NASDAQ:SCYX) last posted its earnings results on Wednesday, March 4th. The company reported $0.25 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.04). SCYNEXIS had a negative return on equity of 25.52% and a negative net margin of 41.79%.The business had revenue of $17.20 million for the quarter, compared to analyst estimates of $8.10 million.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new position in shares of SCYNEXIS in the 4th quarter worth approximately $1,255,000. Vanguard Group Inc. increased its position in shares of SCYNEXIS by 6.4% during the third quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after buying an additional 105,600 shares during the period. Geode Capital Management LLC increased its position in shares of SCYNEXIS by 7.1% during the fourth quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after buying an additional 29,775 shares during the period. Bridgeway Capital Management LLC raised its stake in SCYNEXIS by 4.2% during the second quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock worth $248,000 after buying an additional 14,689 shares during the last quarter. Finally, GSA Capital Partners LLP raised its stake in SCYNEXIS by 95.2% during the third quarter. GSA Capital Partners LLP now owns 104,423 shares of the company’s stock worth $80,000 after buying an additional 50,916 shares during the last quarter. Institutional investors own 54.37% of the company’s stock.

SCYNEXIS Company Profile

SCYNEXIS, Inc is a late‐stage biopharmaceutical company focused on developing and commercializing novel anti‐infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.