SCYNEXIS (NASDAQ:SCYX) Announces Earnings Results

SCYNEXIS (NASDAQ:SCYX) released its quarterly earnings data on Thursday. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.72) by $0.01, FiscalAI reports. The company had revenue of $0.13 million for the quarter, compared to analyst estimates of $0.13 million.

SCYNEXIS Trading Up 4.1%

NASDAQ SCYX traded up $0.14 on Friday, hitting $3.44. 12,316 shares of the company were exchanged, compared to its average volume of 132,671. SCYNEXIS has a 1-year low of $3.28 and a 1-year high of $9.12. The firm has a 50 day moving average of $4.43 and a two-hundred day moving average of $5.49. The company has a market cap of $34.18 million, a P/E ratio of -1.64 and a beta of 1.15.

Wall Street Analysts Forecast Growth

SCYX has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SCYNEXIS in a report on Thursday, October 22nd. Brookline Capital Markets reissued a “buy” rating on shares of SCYNEXIS in a report on Friday, July 31st. Wall Street Zen upgraded SCYNEXIS from a “strong sell” rating to a “hold” rating in a research report on Sunday, August 16th. Finally, Guggenheim reaffirmed a “buy” rating and set a $33.00 price target (up from $24.00) on shares of SCYNEXIS in a report on Thursday, August 13th. Two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, SCYNEXIS has a consensus rating of “Hold” and a consensus target price of $33.00.

About SCYNEXIS

SCYNEXIS, Inc is a biotechnology company focused on developing and commercializing innovative antifungal therapies for the treatment of serious and common fungal infections. The company’s research platform is centered on ibrexafungerp, a novel triterpenoid antifungal designed to inhibit glucan synthase, an enzyme important to the formation of fungal cell walls.

SCYNEXIS’s lead product, BREXAFEMME (ibrexafungerp tablets), is an oral antifungal approved in the United States for the treatment of vaginal yeast infections, also known as vulvovaginal candidiasis.