SCYNEXIS (NASDAQ:SCYX) had its price target lowered by Aegis from $45.00 to $40.00 in a report released on Monday, Stock Target Advisor reports. The firm currently has a “buy” rating on the stock. Aegis’ price target would suggest a potential upside of 386.62% from the company’s previous close.
Several other brokerages also recently commented on SCYX. Guggenheim started coverage on SCYNEXIS in a research report on Friday, January 22nd. They issued a “buy” rating and a $25.00 price objective on the stock. Zacks Investment Research upgraded shares of SCYNEXIS from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Thursday, March 4th. HC Wainwright dropped their target price on shares of SCYNEXIS from $35.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, December 28th. Maxim Group lifted their price target on shares of SCYNEXIS from $17.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, February 17th. Finally, Cantor Fitzgerald assumed coverage on shares of SCYNEXIS in a report on Tuesday, January 5th. They set an “overweight” rating and a $30.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $27.75.
NASDAQ SCYX traded down $0.21 on Monday, reaching $8.22. 11,755 shares of the stock were exchanged, compared to its average volume of 633,882. The firm has a market capitalization of $169.52 million, a PE ratio of -2.20 and a beta of 2.16. SCYNEXIS has a one year low of $4.20 and a one year high of $10.50. The company’s 50-day simple moving average is $8.29 and its two-hundred day simple moving average is $6.97. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 1.39.
SCYNEXIS (NASDAQ:SCYX) last announced its quarterly earnings data on Sunday, March 28th. The company reported ($3.53) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.73) by ($2.80). Sell-side analysts forecast that SCYNEXIS will post -2.77 earnings per share for the current fiscal year.
In other SCYNEXIS news, major shareholder Perceptive Advisors Llc sold 319,000 shares of the stock in a transaction on Friday, January 22nd. The shares were sold at an average price of $8.24, for a total transaction of $2,628,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.06% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of SCYX. Northern Trust Corp lifted its stake in shares of SCYNEXIS by 12.0% in the 4th quarter. Northern Trust Corp now owns 19,636 shares of the company’s stock valued at $150,000 after purchasing an additional 2,108 shares during the last quarter. Creative Planning raised its holdings in SCYNEXIS by 19.3% during the 4th quarter. Creative Planning now owns 24,700 shares of the company’s stock valued at $189,000 after buying an additional 4,000 shares during the period. Wells Fargo & Company MN raised its holdings in SCYNEXIS by 10,517.9% during the 4th quarter. Wells Fargo & Company MN now owns 5,946 shares of the company’s stock valued at $46,000 after buying an additional 5,890 shares during the period. Jane Street Group LLC bought a new stake in SCYNEXIS in the fourth quarter worth $77,000. Finally, Diametric Capital LP purchased a new position in SCYNEXIS during the fourth quarter worth $82,000. Institutional investors and hedge funds own 36.92% of the company’s stock.
SCYNEXIS, Inc, a biotechnology company, delivers therapies for the treatment fungal infections in the United States. It is developing its lead product candidate, ibrexafungerp, as a novel oral and intravenous drug for the treatment of various fungal infections, including vulvovaginal candidiasis, invasive aspergillosis, invasive candidiasis, and refractory invasive fungal infections.
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