SCYNEXIS Inc (SCYX) Receives Consensus Rating of “Buy” from Analysts
SCYNEXIS Inc (NASDAQ:SCYX) has been assigned a consensus rating of “Buy” from the eight brokerages that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $10.00.
Several research analysts have recently commented on SCYX shares. Zacks Investment Research cut shares of SCYNEXIS from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Guggenheim started coverage on shares of SCYNEXIS in a report on Tuesday, October 24th. They set a “buy” rating and a $6.00 target price on the stock. Finally, ValuEngine raised shares of SCYNEXIS from a “strong sell” rating to a “sell” rating in a report on Saturday, December 9th.
Shares of SCYNEXIS (NASDAQ:SCYX) traded down $0.08 on Tuesday, hitting $1.98. 164,973 shares of the stock traded hands, compared to its average volume of 250,328. SCYNEXIS has a 12 month low of $1.52 and a 12 month high of $3.82. The company has a market capitalization of $56.55, a PE ratio of -2.44 and a beta of 0.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 7.30 and a quick ratio of 7.30.
A number of large investors have recently made changes to their positions in SCYX. GSA Capital Partners LLP increased its stake in SCYNEXIS by 33.7% in the second quarter. GSA Capital Partners LLP now owns 176,700 shares of the company’s stock valued at $316,000 after acquiring an additional 44,500 shares during the last quarter. Vanguard Group Inc. increased its stake in SCYNEXIS by 6.0% in the second quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock valued at $1,554,000 after acquiring an additional 48,978 shares during the last quarter. 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 valued at $907,000 after acquiring an additional 125,000 shares during the last quarter. National Asset Management Inc. bought a new position in SCYNEXIS in the second quarter valued at approximately $551,000. Finally, Dimensional Fund Advisors LP bought a new position in SCYNEXIS in the third quarter valued at approximately $264,000. 30.90% of the stock is currently owned by institutional investors and hedge funds.
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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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