Scynexis Inc. (SCYX) Now Covered by Analysts at Brean Capital
SCYX has been the subject of a number of other reports. Guggenheim started coverage on shares of Scynexis in a research report on Wednesday, August 17th. They set a buy rating and a $15.00 price target for the company. Zacks Investment Research upgraded Scynexis from a hold rating to a buy rating and set a $3.25 price objective for the company in a research report on Friday, August 26th. Needham & Company LLC restated a buy rating and set a $16.00 price objective on shares of Scynexis in a research report on Thursday, June 9th. Canaccord Genuity restated a buy rating on shares of Scynexis in a research report on Thursday, June 9th. Finally, WBB Securities upgraded Scynexis from a speculative buy rating to a buy rating and set a $8.00 price objective for the company in a research report on Tuesday, August 9th. Seven equities research analysts have rated the stock with a buy rating, The stock currently has an average rating of Buy and an average price target of $12.18.
Scynexis (NASDAQ:SCYX) traded down 2.132% on Monday, hitting $4.453. The stock had a trading volume of 295,647 shares. The company’s 50-day moving average price is $3.15 and its 200 day moving average price is $3.17. Scynexis has a one year low of $1.74 and a one year high of $7.69. The firm’s market cap is $104.31 million.
Scynexis (NASDAQ:SCYX) last posted its quarterly earnings results on Monday, August 8th. The company reported ($0.56) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.52) by $0.04. Scynexis had a negative net margin of 12,239.31% and a negative return on equity of 73.13%. Analysts expect that Scynexis will post ($2.13) earnings per share for the current year.
In other Scynexis news, Director Patrick Machado purchased 40,000 shares of the business’s stock in a transaction on Thursday, September 15th. The stock was bought at an average cost of $2.94 per share, for a total transaction of $117,600.00. Following the acquisition, the director now owns 60,000 shares of the company’s stock, valued at approximately $176,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.91% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Deerfield Management Co. increased its position in shares of Scynexis by 109.1% in the second quarter. Deerfield Management Co. now owns 1,773,177 shares of the company’s stock valued at $3,848,000 after buying an additional 925,177 shares during the period. Sabby Management LLC acquired a new position in shares of Scynexis during the second quarter valued at $1,243,000. UBS Oconnor LLC acquired a new position in shares of Scynexis during the second quarter valued at $542,000. Granite Point Capital Management L.P. acquired a new position in shares of Scynexis during the second quarter valued at $380,000. Finally, Private Advisor Group LLC boosted its stake in shares of Scynexis by 100.0% in the second quarter. Private Advisor Group LLC now owns 200,000 shares of the company’s stock valued at $434,000 after buying an additional 100,000 shares in the last quarter. Institutional investors own 60.30% of the company’s stock.
Scynexis Company Profile
SCYNEXIS, Inc is engaged in the discovery, development and commercialization of anti-infectives. The Company is developing its lead product candidate, SCY-078, as an oral and intravenous (IV) drug for the treatment of several fungal infections, including serious invasive fungal infections. SCY-078 is a structurally distinct glucan synthase inhibitor that has been shown to be effective in vitro and in vivo in animal studies against a range of Candida and Aspergillus species, including drug-resistant strains.
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