SCYNEXIS (NASDAQ:SCYX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of SCYNEXIS (NASDAQ:SCYX) from a strong sell rating to a hold rating in a research report report published on Sunday.

Other equities research analysts have also recently issued research reports about the stock. Guggenheim reissued a “buy” rating and issued a $33.00 target price (up from $24.00) on shares of SCYNEXIS in a research report on Thursday, August 13th. Weiss Ratings upgraded shares of SCYNEXIS from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 24th. Finally, Brookline Capital Markets reiterated a “buy” rating on shares of SCYNEXIS in a research note on Friday, July 31st. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $33.00.

SCYNEXIS Trading Up 1.0%

NASDAQ:SCYX opened at $5.14 on Friday. The stock has a 50 day simple moving average of $4.39 and a 200 day simple moving average of $5.85. The stock has a market cap of $51.14 million, a P/E ratio of -2.46 and a beta of 1.09. SCYNEXIS has a 1-year low of $3.53 and a 1-year high of $10.48.

SCYNEXIS (NASDAQ:SCYX) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of ($0.51) by $1.14. The firm had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.08 million. SCYNEXIS had a negative return on equity of 44.15% and a negative net margin of 41.79%. As a group, sell-side analysts forecast that SCYNEXIS will post -1.6 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SCYX. Jane Street Group LLC bought a new stake in SCYNEXIS during the second quarter worth $27,000. Bridgeway Capital Management LLC increased its stake in shares of SCYNEXIS by 4.2% in the 2nd quarter. Bridgeway Capital Management LLC now owns 368,180 shares of the company’s stock valued at $248,000 after purchasing an additional 14,689 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of SCYNEXIS by 6.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,762,322 shares of the company’s stock worth $1,357,000 after buying an additional 105,600 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of SCYNEXIS by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 449,223 shares of the company’s stock worth $284,000 after buying an additional 29,775 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in shares of SCYNEXIS during the 4th quarter worth $1,255,000. 54.37% of the stock is owned by institutional investors.

SCYNEXIS Company Profile

SCYNEXIS, Inc is a late‐stage biopharmaceutical company focused on developing and commercializing novel anti‐infective therapies. Headquartered in Jersey City, New Jersey, the company’s primary research and development efforts center on combating invasive and chronic fungal infections, an area of high unmet medical need. SCYNEXIS’s scientific platform is built around its proprietary triterpenoid class of antifungals, which are designed to address resistance and safety limitations associated with existing treatments.

The company’s lead product candidate, ibrexafungerp, represents the first oral glucan synthase inhibitor to reach clinical development.