SCYNEXIS (NASDAQ:SCYX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $1.25 target price on the stock. Zacks Investment Research‘s target price points to a potential upside of 16.82% from the company’s current price.
According to Zacks, “SCYNEXIS, Inc. is a pharmaceutical company. It is engaged in the discovery, development, and commercialization of anti-infectives to address unmet therapeutic needs. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of serious and life-threatening invasive fungal infections in humans. It also provides contract research and development services. SCYNEXIS, Inc. is headquartered in Durham, North Carolina. “
A number of other equities analysts have also issued reports on SCYX. ValuEngine lowered shares of SCYNEXIS from a “hold” rating to a “sell” rating in a research report on Wednesday, January 8th. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of SCYNEXIS in a research report on Thursday, November 7th. LADENBURG THALM/SH SH reiterated a “buy” rating and issued a $6.00 target price on shares of SCYNEXIS in a research report on Thursday, January 9th. Finally, HC Wainwright restated a “buy” rating and set a $3.50 price objective on shares of SCYNEXIS in a research report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. SCYNEXIS presently has a consensus rating of “Buy” and an average target price of $3.95.
SCYX traded down $0.01 on Tuesday, reaching $1.07. The company had a trading volume of 1,900 shares, compared to its average volume of 1,780,096. The company has a fifty day moving average of $0.90 and a 200-day moving average of $1.08. The company has a market capitalization of $57.20 million, a P/E ratio of -2.17 and a beta of 2.16. The company has a current ratio of 3.58, a quick ratio of 3.58 and a debt-to-equity ratio of 2.60. SCYNEXIS has a one year low of $0.67 and a one year high of $1.90.
SCYNEXIS (NASDAQ:SCYX) last announced its earnings results on Tuesday, November 12th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.01. SCYNEXIS had a negative net margin of 11,653.81% and a negative return on equity of 230.55%. Research analysts predict that SCYNEXIS will post -0.65 EPS for the current year.
Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of SCYNEXIS by 47.7% in the second quarter. Vanguard Group Inc. now owns 2,373,737 shares of the company’s stock valued at $3,110,000 after purchasing an additional 766,865 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of SCYNEXIS by 152.0% in the 2nd quarter. BlackRock Inc. now owns 854,880 shares of the company’s stock worth $1,121,000 after purchasing an additional 515,707 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of SCYNEXIS by 86.1% in the 2nd quarter. Renaissance Technologies LLC now owns 475,315 shares of the company’s stock valued at $623,000 after acquiring an additional 219,900 shares during the last quarter. Virtu Financial LLC bought a new position in SCYNEXIS during the 3rd quarter valued at approximately $97,000. Finally, Millennium Management LLC bought a new position in SCYNEXIS during the 3rd quarter valued at approximately $76,000. Institutional investors own 32.00% of the company’s stock.
SCYNEXIS Company Profile
SCYNEXIS, Inc is a biotechnology company, which engages in the development of novel oral and intravenous triterpenoid antifungal for the treatment of several serious fungal infections, including vulvovaginal candidiasis, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections.
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