SCYNEXIS, Inc. (SCYX) Receives $8.40 Average Price Target from Brokerages
Shares of SCYNEXIS, Inc. (NASDAQ:SCYX) have received an average rating of “Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $8.40.
SCYX has been the topic of a number of research analyst reports. Zacks Investment Research raised SCYNEXIS from a “hold” rating to a “buy” rating and set a $2.00 price target on the stock in a report on Wednesday, August 2nd. Roth Capital set a $9.00 target price on SCYNEXIS and gave the company a “buy” rating in a report on Monday, August 7th. HC Wainwright set a $14.00 target price on SCYNEXIS and gave the company a “buy” rating in a report on Wednesday, August 16th. ValuEngine downgraded SCYNEXIS from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 22nd. Finally, Guggenheim initiated coverage on SCYNEXIS in a report on Tuesday, October 24th. They issued a “buy” rating and a $6.00 target price on the stock.
A number of hedge funds have recently bought and sold shares of the business. GSA Capital Partners LLP lifted its holdings in SCYNEXIS by 17.1% in the third quarter. GSA Capital Partners LLP now owns 206,900 shares of the company’s stock valued at $499,000 after acquiring an additional 30,200 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of SCYNEXIS in the third quarter worth about $264,000. National Asset Management Inc. bought a new position in shares of SCYNEXIS in the second quarter worth about $551,000. DAFNA Capital Management LLC raised its stake in shares of 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 during the period. Finally, Vanguard Group Inc. raised its stake in shares of SCYNEXIS by 6.0% in the second quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock worth $1,554,000 after buying an additional 48,978 shares during the period. 30.45% of the stock is currently owned by institutional investors.
Shares of SCYNEXIS (NASDAQ SCYX) traded up $0.03 during trading hours on Monday, hitting $1.88. The stock had a trading volume of 45,989 shares, compared to its average volume of 159,851. The company has a debt-to-equity ratio of 0.43, a quick ratio of 7.30 and a current ratio of 7.30. SCYNEXIS has a 1 year low of $1.52 and a 1 year high of $4.04.
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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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