SCYNEXIS, Inc. (NASDAQ:SCYX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $2.75 price objective on the stock. Zacks Investment Research‘s target price would indicate a potential upside of 19.57% from the company’s previous close.

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 subject of several other research reports. ValuEngine raised SCYNEXIS from a “strong sell” rating to a “sell” rating in a report on Friday, July 14th. Roth Capital assumed coverage on SCYNEXIS in a research report on Monday, July 10th. They set a “buy” rating and a $8.50 target price on the stock. Finally, HC Wainwright set a $14.00 target price on SCYNEXIS and gave the company a “buy” rating in a research report on Wednesday, August 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.82.

SCYNEXIS (NASDAQ SCYX) opened at 2.30 on Tuesday. The stock’s market cap is $61.46 million. The stock’s 50 day moving average price is $2.14 and its 200-day moving average price is $2.04. SCYNEXIS has a 12 month low of $1.52 and a 12 month high of $4.95.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. National Asset Management Inc. purchased a new position in SCYNEXIS during the second quarter valued at $551,000. DAFNA Capital Management LLC lifted its position in SCYNEXIS by 32.7% during the second quarter. DAFNA Capital Management LLC now owns 506,900 shares of the company’s stock valued at $907,000 after purchasing an additional 125,000 shares in the last quarter. Vanguard Group Inc. lifted its position in SCYNEXIS by 6.0% during the second quarter. Vanguard Group Inc. now owns 868,394 shares of the company’s stock valued at $1,554,000 after purchasing an additional 48,978 shares in the last quarter. GSA Capital Partners LLP lifted its position in SCYNEXIS by 33.7% during the second quarter. GSA Capital Partners LLP now owns 176,700 shares of the company’s stock valued at $316,000 after purchasing an additional 44,500 shares in the last quarter. Finally, Federated Investors Inc. PA lifted its position in SCYNEXIS by 23.5% during the second quarter. Federated Investors Inc. PA now owns 4,208,400 shares of the company’s stock valued at $7,533,000 after purchasing an additional 800,040 shares in the last quarter. Institutional investors own 36.75% of the company’s stock.

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.

Analyst Recommendations for SCYNEXIS (NASDAQ:SCYX)

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