SCYNEXIS (NASDAQ:SCYX – Get Free Report) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.
A number of other research analysts also recently commented on SCYX. Weiss Ratings restated a “sell (d-)” rating on shares of SCYNEXIS in a research note on Thursday, October 22nd. Guggenheim reaffirmed a “buy” rating and set a $33.00 price target (up from $24.00) on shares of SCYNEXIS in a research note on Thursday, August 13th. Finally, Brookline Capital Markets reissued a “buy” rating on shares of SCYNEXIS in a research report on Friday, July 31st. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.00.
View Our Latest Report on SCYNEXIS
SCYNEXIS Trading Up 6.1%
Shares of NASDAQ:SCYX opened at $3.50 on Friday. SCYNEXIS has a twelve month low of $3.28 and a twelve month high of $9.12. The company has a 50-day moving average price of $4.39 and a two-hundred day moving average price of $5.48.
SCYNEXIS (NASDAQ:SCYX – Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($0.71) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.01. The company had revenue of $0.13 million during the quarter, compared to the consensus estimate of $0.13 million. As a group, sell-side analysts anticipate that SCYNEXIS will post -1.60 EPS for the current fiscal year.
Institutional Investors Weigh In On SCYNEXIS
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Effects LLC acquired a new stake in shares of SCYNEXIS in the 2nd quarter valued at approximately $56,000. Empowered Funds LLC bought a new position in shares of SCYNEXIS in the second quarter worth approximately $63,000. Velan Capital Investment Management LP bought a new stake in SCYNEXIS in the second quarter valued at $163,000. BlackRock Inc. bought a new stake in SCYNEXIS in the 2nd quarter worth about $169,000. Finally, ADAR1 Capital Management LLC bought a new position in SCYNEXIS in the 2nd quarter worth approximately $201,000. Hedge funds and other institutional investors own 54.37% of the company’s stock.
SCYNEXIS Company Profile
SCYNEXIS, Inc is a biotechnology company focused on developing and commercializing innovative antifungal therapies for the treatment of serious and common fungal infections. The company’s research platform is centered on ibrexafungerp, a novel triterpenoid antifungal designed to inhibit glucan synthase, an enzyme important to the formation of fungal cell walls.
SCYNEXIS’s lead product, BREXAFEMME (ibrexafungerp tablets), is an oral antifungal approved in the United States for the treatment of vaginal yeast infections, also known as vulvovaginal candidiasis.
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