SCYNEXIS, Inc. (SCYX) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of SCYNEXIS, Inc. (NASDAQ:SCYX) from a hold rating to a buy rating in a research report report published on Tuesday morning. They currently have $2.00 target price on the stock.
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. “
SCYX has been the topic of several other research reports. ValuEngine cut SCYNEXIS from a sell rating to a strong sell rating in a research note on Tuesday, August 22nd. Guggenheim assumed coverage on SCYNEXIS in a research note on Tuesday, October 24th. They issued a buy rating and a $6.00 target price on the stock. Roth Capital set a $9.00 price objective on SCYNEXIS and gave the stock a buy rating in a research note on Monday, August 7th. Finally, HC Wainwright set a $14.00 price objective on SCYNEXIS and gave the stock a buy rating in a research note on Wednesday, August 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $8.43.
SCYNEXIS (NASDAQ SCYX) traded up $0.03 during midday trading on Tuesday, reaching $1.88. The company’s stock had a trading volume of 159,082 shares, compared to its average volume of 340,665. The company has a current ratio of 7.30, a quick ratio of 7.30 and a debt-to-equity ratio of 0.43. SCYNEXIS has a 12-month low of $1.52 and a 12-month high of $4.04.
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Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of SCYNEXIS by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 37,523 shares of the company’s stock worth $103,000 after purchasing an additional 512 shares in the last quarter. Dimensional Fund Advisors LP bought a new stake in SCYNEXIS in the 3rd quarter valued at $264,000. GSA Capital Partners LLP raised its stake in SCYNEXIS by 33.7% in the 2nd 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 period. National Asset Management Inc. bought a new stake in SCYNEXIS in the 2nd quarter valued at $551,000. Finally, DAFNA Capital Management LLC raised its stake in SCYNEXIS by 32.7% in the 2nd 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 period. Institutional investors own 33.22% of the company’s stock.
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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