Zacks Investment Research Lowers SCYNEXIS, Inc. (SCYX) to Hold
Zacks Investment Research downgraded shares of SCYNEXIS, Inc. (NASDAQ:SCYX) from a buy rating to a hold rating in a research report released on Saturday.
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. “
Other research analysts also recently issued research reports about the stock. ValuEngine raised shares of SCYNEXIS from a strong sell rating to a sell rating in a research report on Friday, July 14th. HC Wainwright set a $14.00 target price on shares of SCYNEXIS and gave the stock a buy rating in a report on Wednesday, August 16th. Roth Capital initiated coverage on shares of SCYNEXIS in a report on Monday, July 10th. They set a buy rating and a $8.50 target price for the company. Needham & Company LLC downgraded shares of SCYNEXIS from a buy rating to a hold rating in a report on Tuesday, May 9th. Finally, Aegis reaffirmed a buy rating on shares of SCYNEXIS in a report on Tuesday, May 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $10.22.
SCYNEXIS (NASDAQ:SCYX) opened at 1.91 on Friday. The stock’s market capitalization is $51.04 million. The firm has a 50-day moving average price of $1.74 and a 200 day moving average price of $2.25. SCYNEXIS has a 52-week low of $1.52 and a 52-week high of $5.51.
TRADEMARK VIOLATION NOTICE: This news story was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/29/zacks-investment-research-lowers-scynexis-inc-scyx-to-hold.html.
In related news, Director David C. Hastings bought 20,000 shares of SCYNEXIS stock in a transaction that occurred on Wednesday, June 21st. The stock was acquired at an average price of $1.75 per share, with a total value of $35,000.00. Following the acquisition, the director now owns 20,000 shares of the company’s stock, valued at approximately $35,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased a total of 45,000 shares of company stock valued at $75,850 in the last ninety days. 3.91% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Federated Investors Inc. PA increased its stake in shares of SCYNEXIS by 23.5% in the second quarter. Federated Investors Inc. PA now owns 4,208,400 shares of the company’s stock valued at $7,533,000 after buying an additional 800,040 shares during the last quarter. National Asset Management Inc. acquired a new stake in SCYNEXIS during the second quarter worth about $551,000. Private Advisor Group LLC acquired a new stake in SCYNEXIS during the first quarter worth about $555,000. KCG Holdings Inc. acquired a new stake in SCYNEXIS during the first quarter worth about $416,000. Finally, DAFNA Capital Management LLC increased its stake in SCYNEXIS by 32.7% in the second quarter. DAFNA Capital Management LLC now owns 506,900 shares of the company’s stock worth $907,000 after buying an additional 125,000 shares in the last quarter. 36.75% of the stock is owned by institutional investors and hedge funds.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for SCYNEXIS Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SCYNEXIS Inc. and related stocks with our FREE daily email newsletter.